HUDCO Q2 profit up 3%, revenue up 28%; Rs 1 interim dividend declared
HUDCO · price
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On the reaction day the stock moved 1.5 pts less than Nifty Midcap 150 and 0.4 pts less than its Financial Institution peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Standalone Q2 revenue rose 27.8% to Rs 3,219.03 crore, but profit after tax rose only 3.1% to Rs 709.83 crore. H1 revenue and profit were Rs 6,156.34 crore and Rs 1,340.06 crore. Operating cash flow was negative Rs 18,768.15 crore, while debt-equity was 6.98. The auditor highlighted a Rs 670.85 crore MoHUA recoverable. A Rs 1 interim dividend was declared.
Profit is growing more slowly than revenue, while negative cash flow and high borrowing are risks; the Rs 1 dividend provides some support.