Thursday, January 12, 2012

HDFC = RESULTS FOR = Q3 FY 2012 = Q/E DEC,2011 = NPT UP 10.14%YOY


Housing Development Finance Corporation Limited

NSE Symbol        HDFC

HDFC Has declared its results for Q3 FY2012 ending Dec, 2011.

Net Sales stands at Rs.4379.34 Cr in current Qtr ending Dec,2011 - compared to Rs.4077.05 Cr (Up By 7.41%) compared to the previous qtr ending Sep,2011 – and Rs.3148.95 cr (Up By 39.07%) in corresponding Qtr ending Dec’2010. The Net sales increase is impressive.

Profit from Operations has gone up almost by the same proportion to Rs.4247.49 cr in  current Qtr – compared to Rs.3936.12 cr (Up by 7.91%) in previous qtr and Rs.3033.63 cr (Up by 40.01%) in corresponding Qtr.

Other Income for current qtr stands At Rs.93.17 cr – compared to Rs.92.09 cr (Up by 1.17%) in previous qtr and Rs.172.09 cr (down by -45.86%) in corresponding Qtr.

Interest Expense stands at Rs.3012.41 cr in current Qtr – compared to Rs.2690.51 cr (Up by 11.96%) in previous qtr and Rs.1992.84 cr (Up by 51.16%) in corresponding Qtr. The increase in this main expense head is much more than proportionate increase in Net sales and Profit from operations.

Profit before tax stands at Rs.1328.25 cr in current Qtr – compared to Rs.1337.70 cr (down by -0.71%) in previous qtr; and Rs.1212.88 cr ( Up by 9.51%) in corresponding Qtr.

Tax expense stands at Rs.347 cr in current Qtr – compared to Rs.367 cr (down by -5.45%) in previous qtr; and Rs.322 Cr (Up by 7.76%) in corresponding Qtr.

Net Profit stands finally at Rs.981.25 cr in current Qtr – compared to Rs.970.70 cr (Up by 1.09%) in previous qtr; and Rs.890.88 cr (Up by 10.14%) in corresponding Qtr. HDFC has thus managed to sustain double digit growth in NPT level this quarter also.

On a Face Value of Rs.2, Basic EPS stands at Rs.6.65 in Q3 FY 12; Rs.6.6 in Q2 FY 12 and Rs.5.75 in Q1 FY 12; The same was Rs.7.76 in Q4 FY 11; and Rs.6.09 in Q3 FY 11.

If Interest rates & borrowing costs come down in Q4 onwards, HDFC’s margins may go up well. This is likely in future.

As of Q3 FY 12 – the annualized EPS is likely to be around – Rs.25.65.

Current Market price is around Rs.687.50; while the 52 week high price is Rs.737.90 and the 52 week low price is Rs.582.30.

The price earning Ratio works out to 26.8.

RESULTS TABLE

HDFC
31-Dec-11
30-Sep-11
% DIF
30-Jun-11
31-Mar-11
31-Dec-10
% DIF
Net Sales
437934
407705
7.41
380067
364056
314895
39.07
Employees Cost
5080
5258
-3.39
5276
3837
4505
12.76
Depreciation
538
483
11.39
446
523
555
-3.06
Other Expenditure
7567
8352
-9.4
7392
5735
6472
16.92
Total Expenditure
13185
14093
-6.44
13114
10095
11532
14.33
Profit from Operations
424749
393612
7.91
366953
353961
303363
40.01
Other Income
9317
9209
1.17
2093
14430
17209
-45.86
Interest
301241
269051
11.96
251493
212996
199284
51.16
Profit before tax
132825
133770
-0.71
117553
155395
121288
9.51
Tax expense
34700
36700
-5.45
33100
41200
32200
7.76
Net Profit
98125
97070
1.09
84453
114195
89088
10.14
Face Value (In Rs
2
2
0
2
2
2
0
Paid Up Equity
-
-

29399
29337
-

Basic EPS
6.65
6.6
0.76
5.75
7.76
6.09
9.2
Diluted EPS
6.56
6.49
1.08
5.65
7.6
5.91
11

Announcements by HDFC

12-01-2012          standalone Results for the quarter ended on 31-DEC-2011 as follows: Net Sales of Rs. 437934 lacs for quarter ending on 31-DEC-2011 against Rs. 314895 lacs for the quarter ending on 31-DEC-2010. Net Profit / (Loss) of Rs. 98125 lacs for the quarter ending on 31-DEC-2011 against Rs. 89088 lacs for the quarter ending on 31-DEC-2010.

09-11-2011          Housing Development Finance Corporation has approved the incorporation of a wholly owned subsidiary towards the Corporation's foray into the education sector. In this regard the Company has issued a Press Release titled "HDFC's Strategic Foray into The Indian Education Sector"

17-10-2011          standalone Results for the quarter ended on 30-SEP-2011 as follows: Net Sales of Rs. 407705 lacs for quarter ending on 30-SEP-2011 against Rs. 290655 lacs for the quarter ending on 30-SEP-2010. Net Profit / (Loss) of Rs. 97070 lacs for the quarter ending on 30-SEP-2011 against Rs. 80754 lacs for the quarter ending on 30-SEP-2010.

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