HDFC Opened Up About the Q4 Profit on Sale of Investment
The Housing Development Finance Corporation is likely to report Rs 300 crore profit on sale of investments for the quarter ended March 3. While compared to last year with same quarter the profit on sale of investments was Rs 49 crore.
It was reported that the figure includes Rs 265 crore on account of the sale of HDFC Developers and HDFC Realty.
In Q4FY18, income from dividend for the quarter ended March 31, 2018 stood at Rs 331 crore. While in last year during correspondent period, it was Rs 223 crore. In afternoon trade, HDFC informed bourses about the updates.
It was seen that the shares of the company were trading almost flat at Rs 1,834.35 at around 3.25 pm. BSE Sensex was up 133 points, or 0.40 per cent, at 33,388.59 at around the same time.
HDFC also stated that the corporation did not sell any loans during the quarter ended March 31, 2018. It informed that the loans sold in the previous 12 months were of Rs 6,453 crore.
HDFC also disclosed that it has proposed to make an additional special provision of Rs 80 crore, being 30 per cent of the pre-tax gains on this transaction.