New Delhi: State-owned HUDCO on Friday reported a 87 per cent rise in its consolidated net profit to Rs 440.91 crore for the quarter ended March.

Its net profit stood at Rs 236.29 crore in the year-ago period.

The company’s total income rose to Rs 1,900.40 crore in the March 2020 quarter from Rs 1,493.35 crore a year ago, according to a regulatory filing.

Net profit rose to Rs 1,708.20 crore, from Rs 1,179.85 crore in the 2018-19.

Total income went up to Rs 7,571.84 crore in the financial year 2019-20 from Rs 5,591.22 crore in the previous year.

HUDCO is a policy institution that provides housing finance and non-commercial urban infrastructure financing. It is regulated by the National Housing Bank and is under the administrative control of the Ministry of Housing and Urban Affairs.

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