HDFC Ltd has posted a 21.59 per cent rise in net profit at Rs 203.24 crore (Rs 2.03 billion) for the second quarter ended September 30, 2003, compared to Rs 167.15 crore (Rs 1.67 billion) recorded in same period previous fiscal.

Income from operations in the period under review also increased to Rs 773.73 crore (Rs 7.74 billion) from Rs 742.82 crore (Rs 7.43 billion) in Q2 of last year, the company said in a release in Mumbai on Monday.

Other income in Q2 was also higher at Rs 2.13 crore (Rs 21.3 million) as against Rs 1.75 crore (Rs 17.5 million) registered in July-September quarter of last financial year.

For the six months ended September, HDFC's net profit and income from operations has grown to Rs 371 crore (Rs 304.45 crore in H1 of FY-03) and Rs 1,499.61 crore (Rs 1,445.7 crore) respectively.

Approvals in H1 of current fiscal aggregated Rs 6,871.95 crore (Rs 5,294.81 crore), representing an increase of 30 per cent. Disbursements in the same period amounted to Rs 5,470.95 crore (Rs 4,221.83 crore).

HDFC said approvals and disbursements in respect of individual loans were higher by 34 per cent and 33 per cent respectively over corresponding six months of 2002-03.