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One-time gains propel HDFC earnings in an otherwise steady Sep quarter

Net interest income up 17%, PBT grows 30% and PAT jumps 61%; management still cautious about wholesale book

Shreepad S Aute 

Housing Development Finance Corporation (HDFC) on Monday reported above-estimated earnings for the September 2019 quarter (Q2) which were largely boosted by one-off gains. Excluding such gains, the performance of the core business was stable across most parameters.

The management, however, remains cautious on the wholesale loan book. The housing loan major’s profit before tax (PBT) surged about 30 per cent year-on-year to Rs 4,530 crore, 9 per cent above Bloomberg Consensus’ estimate of Rs 4,154 crore. Its 61 per cent year-on-year growth in net profit at Rs 3,961.5 ...

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First Published: Mon, November 04 2019. 21:15 IST
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