HDFC gains 3% as Q3 PBT jumps 219% YoY on fair-value gain from Gruh Finance

For the quarter under review, the company received a fair value gain of Rs 9,020 crore from de-recognition of investment in Gruh Finance, which got merged with private sector lender Bandhan Bank.

Shares of HDFC advanced 3.13 per cent to Rs 2,470.85 on the BSE on Tuesday after the housing finance firm posted a strong December quarter result on Monday. The non-banking finance company (NBFC) reported a 219 per cent rise in profit before tax (PBT) at Rs 9,143 crore in the third quarter of the current financial year mainly aided by a one-time fair value gain of Rs 9,020 crore.

At 9:41 am, the stock was trading 2.47 per cent higher at Rs 2,454.9 apiece on the BSE, as against a 0.3 per cent rise in the S&P BSE Sensex. So