HUDCO profit rises 14%

Mumbai: State-owned Housing and Urban Development Corporation Ltd (HUDCO) on Friday reported a 14 per cent rise in net profit to Rs 451.69 crore for the September quarter, mainly on account of higher interest income. The company had posted a net profit of Rs 396.35 crore in the July-September quarter of 2022-23. In a stock exchange filing, HUDCO posted a higher total income of Rs 1,880.85 crore during the second quarter of the current financial year as against Rs 1,746.87 crore in the year-ago period. HUDCO’s interest income in the second quarter of 2023-24 stood at Rs 1,844 crore as against Rs 1,722.74 crore a year ago.