New Delhi, Jan 30 (PTI) Shares of HDFC pared initial Also Read - Angel Broking files Rs 600-cr IPO papers with Sebi

gains and settled in the negative territory even as the Also Read - Sebi, exchanges beef up risk management surveillance systems

mortgage lender posted around 13 per cent rise in consolidated Also Read - Lupin shares up nearly 3% post Q2 earnings

net profit for the quarter ended December.

On BSE, the stock ended the day at Rs 1,368.90, down 0.13

per cent from previous close. Intra-day, it touched a high

of Rs 1,378.

The scrip settled at Rs 1,371.45 on NSE, down 0.16 per

cent from previous close. It had touched a high of Rs

1,379.40 in the intra-day trade.

On the volume front, over 25 lakh shares of the company

were traded on bourses.

The mortgage lender today reported a 12.80 per cent rise

in consolidated net profit at Rs 2,728.66 crore for the third

quarter ended December. The profit for October-December of

2015-16 stood at Rs 2,419 crore.

The asset quality of the lender came under strain during

the quarter, with gross NPA rising to 0.81 per cent (Rs 2,341

crore in absolute terms) compared with 0.72 per cent in the

year-ago period.

The non-performing loans of the individual portfolio stood

at 0.65 per cent while that of the non-individual portfolio

read 1.16 per cent.

“HDFC Ltd’s third quarter results were broadly in line

with expectations. Loan growth was marginally better than

expected on the back up higher growth from the non individual

loans. GNPAs saw a marginal rise and consequently there was

rise in provisions,” Angel Broking said in a report.

“With lending rates now becoming attractive, the

individual loan book should see pickup in demand in the coming

quarters. Though the fundamentals remain strong for the

company, owing to rich valuations the stock might remain range

bound in the near term,” it added.

This is published unedited from the PTI feed.