Top headlines: HDFC Q2 profit tanks 28%, factory output hits decade high

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HDFC Q2 net profit tanks 28% YoY to Rs 2,870 crore, beats Street estimates

Housing financier HDFC’s net profit for September quarter of FY21 tumbled 27.5 per cent to Rs 2,870.12 crore, less than Street's expectations of over 50 per cent decline, supported by gain from stake sale HDFC Life during the quarter. It had clocked a net profit of Rs 3,961.5 crore in the year-ago period. On a consolidated basis, the profit declined 53.15 per cent to Rs 5,035.41 crore from Rs 10,748.69 crore clocked in Q2FY20. The lender has set aside provisions worth Rs 436 crore in the