HUDCO Q2 profit rises 14% to Rs 451.69 crore

Mumbai: State-owned Housing and Urban Development Corporation Ltd (HUDCO) on Friday reported a 14 per cent rise in net profit to Rs 451.69 crore for the September quarter, mainly on account of higher interest income.

The company had posted a net profit of Rs 396.35 crore in the July-September quarter of 2022-23.

In a stock exchange filing, HUDCO posted a higher total income of Rs 1,880.85 crore during the second quarter of the current financial year as against Rs 1,746.87 crore in the year-ago period.

HUDCO's interest income in the second quarter of 2023-24 stood at Rs 1,844 crore as against Rs 1,722.74 crore a year ago.

In the first six months of the year, its profit stood at Rs 897.39 crore, up from Rs 808.11 crore in the comparable period of the last year.

The company's shares closed 1.08 per cent higher at Rs 80.30 apiece on the BSE.