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

HUDCO Q2 Results: Shares rose nearly 8% after reporting a 27% increase in Net Interest Income to ₹797 crore and a 52.5% rise in net profit to ₹689 crore year-on-year.
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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Also Read: Adani Enterprises Q2 Results: Record Profit Surge of 664.5% and Strong Revenue Growth of 15.66%; More Details Inside

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.

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Steel stock under ₹50 jumps 8% after signs MoU with the Ministry of Steel under PLI for specialty steel

₹50 से कम के स्टील स्टॉक में 8% तेजी, कंपनी के स्पेशल्टी स्टील के लिए PLI स्कीम के तहत Ministry of Steel के साथ MoU साइन करने के बाद।

प्रमुख स्टील निर्माता ने Ministry of Steel के साथ PLI Scheme के तहत MoU साइन किया है, जिससे Bokaro, Jharkhand

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