HDFC beats the Street, post 42% net profit surge to Rs 3,180 cr in Q4

Board okays re-appointment of Keki Mistry as vice-chairman, CEO for 3 more years

The country’s largest mortgage lender, HDFC, on Friday reported a 42 per cent YoY rise in standalone net profit at Rs 3,180 crore in the March quarter, beating Street estimates. The profit was aided by a higher net interest income (NII).
 
This compares with a profit of Rs 2,232.5 crore in the year-ago period (Q4FY20). On a quarterly basis, the profit rose 8.6 per cent, from Rs 2,925.8 crore in Q3FY21.
 
Housing Development Finance Corporation’s NII was up 14 per cent YoY to Rs 4,065 crore in Q4FY21 while net interest margin was at 3.5 per cent, up