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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.

Press Trust of India

hudco

The share sale received bids for about 133.6 million shares from institutional investors against a total of 140 million on offer

Business Standard

HUDCO, Hudco

The floor price for the sale, however, has been set at Rs 79 apiece, which is 12 per cent lower than Tuesday's closing price pf Rs 89.9 per share

markets, indian markets, bse, nse, share markets, stock markets

Stocks to watch on Wednesday, October 18, 2023: Bajaj Auto, Bandhan Bank, IndusInd Bank, LTIMindtree and Wipro to be in focus ahead of Q2 results today.

Divestment, privatisation, stake sale, disinvestment

The plan includes selling 3.5% of the company, with an option to sell an additional 3.5% if the offer is oversubscribed

Reuters

Hudco

The future outlook in terms of Government's sectoral focus and related developments have positive implications for Hudco's medium-term and long-term strategies

News

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