HUDCO reported its earnings for the quarter ended September just before market close on Tuesday. Shares of the company skyrocketed as soon as the results came out.
What Happened: The company's net profit for the quarter under review stood at ₹688 crore, a 52% jump from the ₹452 crore posted in the same quarter last year.
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Net interest income — the difference between a lender’s income from lending activities and interest paid to depositors — stood at ₹797 crore, a 25% jump from the ₹637 crore reported in the corresponding quarter last year.
Analysts at Sharekhan expected the company’s net interest income to come in at ₹799 crore with a net profit of ₹557 crore.
The company's revenue from operations has gone up 35% year-on-year to ₹2,517 crore, compared to the ₹1,864 crore posted in the corresponding quarter of the previous year.
Price Action: HUDCO’s share price was up 6.83% to trade at ₹218 on Tuesday.
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