HDFC consolidated profit up 80% YoY in Q2, Gruh stake sale adds Rs 8k cr

"Pre-tax adjusted gains from the stake sale in Gruh Finance stood at Rs 8,000.29 crore in the consolidated financial results," the company said in a statement

Housing finance corporation HDFC, on Monday, reported a standalone net profit of Rs 3,961 crore, up 60.5 per cent YoY, for the quarter ended September 2019 (Q2FY20) on the back of stake sale from Gruh Finance. The HFC had reported a profit of Rs 3,203 crore in Q1FY20 and Rs 2,467 crore in Q2FY19. 
 

On a consolidated basis, the HFC reported a profit of Rs 10,388 crore, up 80.38 per cent YoY from Rs 5,759.19 crore.
 

The profit beat Street estimates. Analysts at ICICI Securities, for instance, estimated that other income of Rs 3,421 crore, including gain of Rs 1,632