Prime Time Zone, Webdesk: Housing Development Finance Corp (HDFC), the country’s largest home loan lender, saw its profits plummet on the back of declining demand for home loans. Net profit fell 66 per cent to Rs. 2,925.8 crores. In the same quarter of the previous financial year, Rs. The company made a profit of 8,372. The company’s revenue declined 42.3 per cent to Rs. 11,707 crore, according to the regulatory filing.
The company said in a statement that its December quarter earnings were not comparable to the previous quarter. The company said personal loan growth was 26 percent during the quarter. The company said it saw significant recovery and strong growth at the end of the quarter. Also, for HDFC Bank, Rs. The company said it had disbursed loans of Rs 7,076 crore. Similarly, HDFC Bank’s gross illiquid loans stood at 1.67 per cent as on December 31. Shares of the company rose 3.7 per cent to Rs. Rallied at 2,678.65.
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