HDFC’s consolidated net profit up 31 per cent to Rs 5,311 crore in Q1
HDFC Q1 Result: Country’s largest mortgage lender HDFC on Monday reported a 31 per cent rise in its consolidated net profit at Rs 5,311 crore for the quarter ended June 2021. The company had posted a net profit of Rs 4,059 crore in the same quarter a year ago.
HDFC said in a regulatory filing that for the quarter ended June 30, 2021, the corporation’s net profit stood at Rs 5,041 crore as compared to Rs 3,614 crore in the previous year, representing an increase of 39 per cent.
Total income during Q1FY22 increased to Rs 30,997 crore from Rs 29,959 crore in Q1FY21.
On the impact of COVID-19, HDFC said housing demand remains strong and business is back to normalcy in the months of June and July 2021.
“The major risk to business remains in the form of the third wave and the virus,” it said.
Shares of HDFC were trading at Rs 2476.75 on the BSE, up 1.47 per cent from the previous close.
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