HDFC net profit dips to Rs 2,870 cr in Q2, net interest income rises 21%

The Assets Under Management (AUM) rose 10.2 per cent to Rs 5,40,270 crore in Q2FY20 from Rs 4,90,072 crore in the previous year

Housing Development Finance Corporation’s (HDFC’s) net profit dipped 27.6 per cent to Rs 2,870 crore in second quarter of financial year 2020-21 (Q2FY21) from Rs 3,962 crore in the corresponding period a year ago.

Keki Mistry, vice-chairman and chief executive officer, said the numbers for Q2FY21 were not directly comparable with the previous year because it had huge income from dividend and sale of investments in Q2FY20.

After adjusting for sale of investments and fair value, the profit before tax would be Rs 3,366 crore in Q2FY21, as against Rs 2,646 crore a year ago, reflecting a growth of 27 per cent.

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