HUDCO Q2 Results: Net Profit Surges 52.5% to ₹689 Crore, Shares Jumps 8%; Discover More Inside!HUDCO Q2 Results: Net Profit Surges 52.5% to ₹689 Crore, Shares Jumps 8%; Discover More Inside!

HUDCO Q2 Results: Shares of Housing and Urban Development Company (HUDCO) Ltd. rose by nearly 8% on Tuesday following the release of its September quarter results during market hours.

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The company’s Net Interest Income (NII), which represents its core income, increased by 27% year-on-year to ₹797 crore. Additionally, HUDCO reported a net profit surge of 52.5%, reaching ₹689 crore compared to the previous year.

Revenue from operations saw a significant jump of 35% year-on-year, totaling ₹2,518 crore, up from ₹1,865 crore in the same quarter last year. This performance resulted in a compound annual growth rate (CAGR) of 22% in earnings per share.

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HUDCO maintains a strong position in State financing for housing and infrastructure projects, boasting a return on assets between 2.3% and 2.4% and a return on equity of 14.5% to 15%. The stock closed at ₹218.50, reflecting a 7.08% gain for the day and a remarkable 69% increase in value for 2024, with a 192% rise over the past year.