HUDCO‘s share price was in the green going up over 3% to hit an intraday high of ₹309.70.

What Happened: The company’s net profit for the quarter reached ₹557 crore, marking a 25% increase from ₹445 crore in the same quarter last year. Total revenue from operations grew by around 18% to ₹2,188 crore, compared with ₹1,842 crore in the corresponding period of the previous year.

See Also: RVNL's Orderbook Contracts Marginally To ₹83,221 Cr In Q1, FY25 Revenue Guidance Maintained

The company’s loan book grew by 30% year-on-year, reaching ₹1.03 lakh crore. HUDCO’s net interest income (NII) increased by 11.7% year on year to ₹711 crore.

HUDCO’s disbursements went up to ₹12,625 crore, a multifold increase from the ₹629 crore disbursed last year. Sanctions for the quarter also saw a substantial rise of 91.6%, totalling ₹14,097 crore.

Earlier this month, HUDCO announced the signing of a non-binding memorandum of understanding (MoU) with RITES. This partnership aims to leverage the strengths of both organisations to jointly undertake a variety of consultancy and fee-based projects.

Price Action: HUDCO’s share price was up 1.68% to trade at ₹305.15 on Tuesday morning.

Read Next: IRFC Shares In Green After Flat Q1

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.