HUDCO Q1 net profit surge 25% YoY to ₹558 crore; stock rise 3% intraday

The PSU in its Q1 FY25 earnings reported a total income of ₹2,197.19 crore, up by 19% YoY from ₹1851.27 crore a year ago.

HUDCO reported a 25% YoY growth in its standalone net profit (profit after tax) to ₹557.75 crore in Q1 from ₹445.70 crore in the corresponding period of the previous fiscal.

The company's standalone EBITDA stood at ₹2,150.35 crore in June 2024 up by 20.04% (Y-O-Y) from ₹1,791.32 crore in June 2023.

The stock opened higher at ₹309.70 per piece on the NSE, which was also its intraday high. However, the stock pared the opening gains and closed 3.40% lower at ₹ 289.9 amid a fall in broader markets.

HUDCO shares have grown over 66.72% in the last 6 months, jumping over 130% since the start of 2024.

The company's disbursements grew multi-fold from ₹629 crore in Q1 FY24 to ₹12,625 crore in the period under review. Its sanction nearly doubled to ₹14,097 in the June quarter of FY25 from ₹7,359 in the same quarter of the previous financial year.

HUDCO’s net worth increased 9% YoY to ₹17,273.54 crore as of June 30, 2024, according to the stock exchange filing. At the end of the corresponding quarter of the last fiscal, the company's net worth was ₹15,897.95 crore.

The company's loan book for the quarter increased to ₹1.03 lakh crore in Q1FY25. Its gross NPA for Q1FY25 improved to 2.42% from 2.71% last quarter.

HUDCO also had a provision write-back in Q1 worth ₹18.69 crore, lower than ₹23.39 crore write-back in the corresponding period of the previous fiscal.