Mumbai: Housing finance lender Housing Development Finance Corp. Ltd on Wednesday reported 16.84% decline in its June quarter net profit to Rs1,566 crore. However, the company’s profit in the year-ago quarter, of Rs1,871 crore, was boosted by a one-time gain of Rs697 crore. More From Livemint »Still, the June quarter profit failed to meet Street expectations. According to estimates of 11 Bloomberg analysts, HDFC was expected to post a net profit of Rs1,769.60 crore. On consolidated basis, HDFC reported a net profit of Rs2,733.87 crore, down 2.3% from Rs2,796.92 crore a year ago.

Source: Mint July 26, 2017 09:56 UTC