HDFC income up 36%; Street winks at 4.5% fall in net

HDFC, India s largest home loan financing company, impressed the stock markets on Monday despite a 4.5% slide in its net earnings for the fourth quarter. Its profit after tax was down to Rs 733.37 crore from Rs 768.12 crore a year earlier. The company, however, said its Q4 profit in 2007-08 was inflated by a one-time gain of Rs 202 crore from the sale of its 26% stake in HDFC General Insurance to Munich Re. Excluding the one-time gain, the net profit for the quarter would have been higher by 20%. The stock was among the best performers on the ...

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