HDFC registered a 22 per cent rise in net profit at Rs 167.76 crore (Rs 1.68 billion) during the first quarter ended June 30, 2003 as compared to Rs 137.3 crore (Rs 1.37 billion) recorded during the corresponding period of the previous fiscal.

Income from operations rose to Rs 725.88 crore (Rs 7.26 billion) during April-June as against Rs 702.88 crore (Rs 7.03 billion) during the same period of the previous fiscal, a HDFC release said.

Total assets of the company rose 19 per cent at Rs 26,782.69 crore (Rs 267.83 billion) during the quarter under review as against Rs 22,488.79 crore (Rs 224.89 billion) of last year.

Loan approvals grew 30 per cent during the first quarter at Rs 2,731 crore (Rs 27.31 billion) as compared to Rs 2,105 crore (Rs 21.05 billion) in the corresponding period last year.