The country’s largest mortgage lender Housing Development and Finance Corporation (HDFC) Wednesday reported a 23 per cent growth in net profit to Rs. 694.59 crore for the first quarter ended June 30, 2010.

The housing lender had a net profit of Rs. 564.92 crore in the June quarter of the previous fiscal, HDFC said in a filing to the Bombay Stock Exchange.

The total income, however, declined to Rs. 2,801.95 crore during the quarter from Rs. 2,849.07 crore in the same period of the last fiscal.

Shares of HDFC closed at Rs. 3,074.95, up 0.38 per cent on the BSE.

More In: Companies | Business