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HUDCO posts net profit of Rs 335 cr in Q1FY20

HUDCO’s revenue from operations for the period stood at Rs 1,806.49 crore as opposed to Rs 1,606.86 crore in the year-ago period
New Delhi: In the June quarter of financial year 2019-20, state-run HUDCO (Housing and Urban Development Corporation Limited) recorded a marginal rise in net profit at Rs 335.68 crore as opposed to Rs 333.38 crore in the corresponding quarter of the previous financial year. Revenue from operations for the period stood at Rs 1,806.49 crore as opposed to Rs 1,606.86 crore in the year-ago period. Total income for the June quarter was at Rs 1,816.19 crore as opposed to Rs 1,614.09 crore in the same quarter of financial year 2018-19, HUDCO said in a regulatory filing.

Profit before tax

In the first quarter of financial year 2019-20, HUDCO’s profit before tax stood at Rs 515.34 crore, up from Rs 497.28 crore in the corresponding period in financial year 2018-19.

NPA status

While gross NPA for Q1FY2019-20 stood at 4.32 percent as opposed to 6.87 percent in the year-ago period, net NPA for the quarter was at 0.47 percent as opposed to 1.09 percent.