HUDCO is currently the top gainer on the BSE. The stock price surged over 14.5% to Rs.63.80 and continues to remain very firmly in the green.
The market is thrilled with the company’s performance for Q1FY19 wherein net profit jumped up 105% (YoY) to Rs.333 crore. This was on a very robust 70% rise in revenue at Rs.1531 crore.
Its provisions for the quarter rose from Rs.220 crore to Rs.248 crore.
In terms of asset quality, it was more or less stable. Gross NPA was at 6.87% v/s 6.28% (QoQ) while Net NPA fell from 1.42% to 1.09%.
Govt of India currently holds 89.81% stake.
The stock has gone public in May’17 and had received a stellar response to the IPO, seeing over 80 times subscription The IPO was priced at Rs.60.