Mortgage lender HDFC on Tuesday reported a 65 per cent year-on-year (YoY) decline in standalone net profit to Rs 2,925.83 crore for the quarter ended December 2020 (Q3FY21) on the back of lower income. The housing financier's PAT stood at Rs 8,372 in the year-ago period (Q3FY20).
Sequentially, the profit grew 2 per cent from Rs 2,870 crore clocked in Q2FY21.
Analysts at global brokerage Nomura had pegged the net profit at Rs 2,742 crore for the quarter, while those at domestic brokerage Emkay Global estimated it at Rs 2,325.4 crore.
Its consolidated net profit, attributable to the owners, however, came in at Rs 5,176.76 crore for the quarter under review, clocking an improvement of 35 per cent on year, from Rs 3,835.38 crore reported in Q3FY20.
The HDFC group firm’s pre-tax profit came in at Rs 3,752.54 crore, down 58.95 per cent YoY, from Rs 9,143 crore, while it increased 6.2 per cent QoQ from Rs 3,532 crore.
Revenue from the operations came in at Rs 11,707 crore for the quarter under review, as compared to Rs 20,285.47 crore in the corresponding quarter of the previous fiscal.
Shares of the NBFC were quoting at Rs 2,727 apiece, up 5.6 per cent, on the BSE at 2:35 PM, as against a 2.65 per cent-rise in the S&P BSE Sensex. The stock hit an intra-day high of Rs 2,762 on the BSE.
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