Indian markets marginally recover on Wednesday
Mumbai, Jul 27 (IBNS): Indian benchmark indices ended marginally higher on Wednesday, with Sensex up 47.81 points to 28024.33 and Nifty up 25.15 points to 8615.80.
However, the market was cautious ahead of the expiry of July derivative contracts and the outcome of Federal Reserve's two-day meeting, media reported.
HDFC Ltd reported its results for the quarter ending June 30,. The company reported that profit before tax stood at Rs 2,700 crore as compared to Rs 1,952 crore in the corresponding quarter of the previous year, up 38%. This includes the profit on sale of part of its stake in HDFC ERGO General Insurance Company. After providing Rs 829 crore for tax, (inclusive of Rs 90 crore as Deferred Tax Liability on Special Reserve), the profit after tax stood at Rs 1,871 crore as compared to Rs 1,361 crore in the previous year, up 37 per cent.
The company reported 26 per cent growth in individual disbursements. Total Assets under Management (AUM) crossed the Rs 3,00,000 crore mark. Gross non-performing loans stood at 0.75 per cent of the loan portfolio. Consolidated profit after tax at Rs 2,797 crore for the quarter ended June 30, 2016, up 27 per cent.
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