HDFC slips after Q2 results
Tuesday, October 30, 2007HDFC posted 75.60% rise on net profit to Rs 646.39 crore on 51.50% rise in total income to Rs 2205.75 crore in Q2 September 2007 over Q2 September 2007. The Q2 September 2007 net profit was boosted by an exceptional item in the form of Rs 313-crore profit from sale of entire stake in BPO arm Intelenet Global Services.
Loan disbursements rose 27% to Rs 14,275 crore in Q2 September 2007 over Q2 September 2006. The loan portfolio, including loan outstandings and investments in debentures and inter-corporate deposits for financing real estate related projects rose 24% to Rs 63,446 crore in Q2 September 2007 over Q2 September 2006.
At the current price of Rs 2760, the scrip trades at a PE multiple of 29.30, based on Q2 September 2007 annualised EPS of Rs 95.21.
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