You are here: Home » Companies » Results
Apple's app store chief fends off attacks in antitrust trial
Business Standard

HDFC Q4 PAT up 42% YoY at Rs 3,180 cr; Board re-appoints Keki Mistry as MD

HDFC has recommended a final dividend of Rs 23 per equity share

Topics
Q4 Results | HDFC | Markets

Nikita Vashisht  |  New Delhi 



hdfc
HDFC's numbers were largely in-line Street estimates.

India’s leading housing financier on Friday reported a 42.43 per cent year-on-year growth in standalone net profit at Rs 3,179.83 for January-March quarter of FY21 (Q4FY21). This compares with profit of Rs 2,232.5 crore reported in the previous year period (Q4FY20).

On a quarterly basis, the profit rose 8.6 per cent from Rs 2,925.8 crore reported in Q3FY21.

HDFC’s Board also approved re-appointment of Keki M. Mistry as the managing director (MD) of the Corporation for a period of three years with effect from May 7, 2021. Besides, it has recommended a final dividend of Rs 23 per equity share for FY21, compared to Rs 21 per equity share in the previous year.

Its profit before tax (PBT), meanwhile, increased a whopping 45.73 per cent YoY to Rs 3,923.94 crore from Rs 2,692.44 crore.

For the full fiscal of 2020-21, its reported PBT stood at Rs 14,815 crore, while the reported profit after tax was Rs 12,027 crore.

"The profit numbers for the year ended March 31, 2021 are not comparable with that of the previous year. In the previous year, the Corporation had recorded a fair value gain consequent to the merger of GRUH Finance Limited with Bandhan Bank, amounting to Rs 9,020 crore," the corporation said in its statement.

It added: To facilitate a like-for-like comparison of the financials, after adjusting for profit on sale of investments, dividend, fair value adjustments, income on assigned loans, charge for employee stock options and provisions, the adjusted profit before tax for FY21 stood at Rs 13,823 crore compared to Rs 11,586 crore, up 19 per cent YoY.

The Mumbai-based mortgage lender’s revenue, however, contracted 2 per cent on year from Rs 11,975.72 crore in Q4FY20 to Rs 11,697.1 crore during the period under study.

The numbers were largely in-line Street estimates. Global brokerage HSBC, for instance, had pegged HDFC’s PAT at Rs 3,212.1 crore while those at Sharekhan estimated it at Rs 2,770 crore. READ HERE

The net interest income (NII) grew a healthy 14 per cent on year to Rs 4,065 crore compared with Rs 3,564 crore in the previous year. Net Interest Margin for the year ended March 31, 2021 stood at 3.5 per cent.

Loan Book

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.

SUBSCRIBE TO INSIGHTS

What you get on Business Standard Premium?

  • icon Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • icon Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • icon Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
  • icon Pick your 5 favourite companies, get a daily email with all news updates on them.
  • icon 26 years of website archives.
  • icon Preferential invites to Business Standard events.

OR


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Fri, May 07 2021. 14:05 IST

RECOMMENDED FOR YOU

.