HUDCO third quarter net profit has surged by 42% year-over-year to reach Rs 735 crore. In addition, the firm has declared a dividend of Rs 2.05.
HUDCO: Housing & Urban Development Corporation Ltd (HUDCO) reported a significant 42 percent year-over-year increase in net profit to Rs 735 crore in the October-December quarter (Q3) of FY25. This marks a substantial improvement from the Rs 519.23 crore net profit recorded in the corresponding quarter of the previous financial year.
The Navratna company also achieved a robust revenue growth, reaching Rs 2,760 crore in Q3. This represents a notable 37% increase from the Rs 2,013 crore revenue reported in the same period last year.
In addition to its financial performance, HUDCO announced an interim dividend of Rs 2.05 per equity share for the current financial year 2025. The company has set January 30 as the record date for determining the eligibility of shareholders to receive the dividend.
Furthermore, HUDCO has revised its borrowing plan for the current financial year, increasing it from Rs 40,000 crore to Rs 55,000 crore due to a significant surge in business activities.
Expenses for HUDCO rose by 39% year-over-year to Rs 1,838 crore in Q3, with earnings per share (EPS) standing at Rs 3.67. As of December 2024, the President of India held the majority stake in the company.
HUDCO also announced its intention to exit from its associate company Ind Bank Housing Limited (IBHL), although the reason for this decision was not disclosed in the exchange filing.
On January 22, HUDCO shares closed 0.62% lower at Rs 228. Over the past six months, the shares have experienced a decline of approximately 30%.
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