Mumbai, July 18: Housing Development Finance Corporation (HDFC) has registered a 20 per cent increase in its profit after tax in the first quarter of the current fiscal at Rs 296.82 crore against Rs 247.28 crore achieved in the corresponding period last year.

Total income for the period stood at Rs 1,248.53 crore, a 33.57 per cent rise from Rs 934.76 crore in the year-ago period. Profit before tax was Rs 376.73 crore, up 22.2 per cent from Rs 308.21 crore recorded in the corresponding period of the previous fiscal.

The firm’s total assets stood at Rs 53,630 crore on June 30, a 26 per cent increase from Rs 42,691 crore a year ago.

Loan approvals for the quarter were higher by 30 per cent at Rs 5,998 crore compared with Rs 4,628 crore in the corresponding period of the previous year. Loan disbursements for the period grew by 28 per cent to Rs 4,386 crore from Rs 3,437 crore last fiscal.

The loan portfolio of the company, which includes outstanding loans, deposits and investments in preference shares and debentures for financing real estate related projects increased 26 per cent and stood at Rs 49,234 crore against Rs 39,081 crore in the year-ago period.

Capital adequacy ratio of the company stood at 13.3 per cent of the risk weighted assets, against the minimum requirement of 12 per cent. Its Tier 1 capital adequacy was 7.8 per cent against a minimum requirement of 6 per cent.

Although the HDFC stock slid by 1.11 per cent and ended the day in the red at Rs 1,070 against yesterday’s closing price of Rs 1,082.05, it recovered from lower levels of Rs 1,051.50 on the back of its results. The scrip had, however, opened strong at Rs 1,100 and reached an intra-day high of Rs 1,105 amidst a volume of 63,885 shares on the Bombay Stock Exchange.

Crompton Greaves

Crompton Greaves Ltd has posted a 16.38 per cent increase in net profit after tax at Rs 36.37 crore for the quarter ended June 30 compared with Rs 31.25 crore in the corresponding quarter in 2005-06.

Total income (net of excise) increased 41.33 per cent to Rs 745.55 crore from Rs 527.51 crore in the same quarter in 2005-06.