HDFC Q1 PAT dips 5% YoY to Rs 3,051 cr; Board approves to raise Rs 45K cr

The HFC's revenue from operations stood at Rs 13,017.68 crore for the quarter under review, compared Rs 12,990.29 crore earned in the previous year quarter

Housing financier HDFC on Thursday reported a standalone net profit of Rs 3,051.52 crore for June quarter of FY21 (Q1FY21), clocking a 4.7 per cent year-on-year (YoY) de-growth from Rs 3,203.1 crore-profit reported in Q1FY20. Sequentially, the profit grew 36.68 per cent from Rs 2,232.5 crore reported in the March quarter of FY20.
 

“During the quarter, the corporation sold 26 million equity shares of HDFC Life, resulting in a pre-tax gain of Rs 1,241.20 crore” said the management in a statement. The profit from sale of investments was Rs 2.45 crore in the March quarter of FY20.

On a