HUDCO Q1 FY25 results, Net Profit surges 25% To Rs 557 Cr

HUDCO has announced the quarterly financial results for June ending and the company’s net profit for the quarter stood at Rs 557 crore, up around 25% from the Rs 445 crore posted in the corresponding quarter of the previous year.

The company’s total revenue from operations came in at Rs 2,188 crore, up around 18% from the Rs 1,842 crore posted in the same quarter of the previous year.

Expenses for the April-June quarter also saw a 20% increase to Rs 1,512 crore, compared to the Rs 1,253 crore posted in the corresponding quarter of the previous year.

Read Also : Oil India launched flagship CSR initiative, Project ‘OIL ASHA’

Gross NPA for the quarter improved to 2.42% from 2.71% last quarter, while net NPA declined to 0.33% from 0.36% in March. Net Interest Margin for the June quarter fell to 3% from 3.24% last year, while yields fell to 9.06% from 9.36% last year. Pre-Provisioning Operating Profit (PPOP) during the quarter increased by 16% from last year to ?666 crore.

Meanwhile, the company's disbursements increased to Rs 12,625 crore from Rs 629 crore disbursements last year. Sanctions for the quarter increased by 91.6% from last year to Rs 14,097 crore. The loan book for the quarter also increased by 30% from last year to Rs 1.03 lakh crore.

Read Also : OIL, OVL & KABIL sign MoU with IRH, UAE for Global cooperation in Critical Mineral supply chain

HUDCO's Net Interest Income (NII) or core income increased by 11.7% from last year to Rs 711 crore, while net profit increased by 25% year-on-year to Rs 558 crore.

Read Also : NRL signs Historic MoU with Paradeep Phosphates Limited