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This article is more than 1 year old.

HDFC Q1 net profit falls 4.7% to Rs 3,051 crore; NII rises 8.4% to Rs 3,392 crore

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The country's largest mortgage lender Housing Development Finance Corporation (HDFC) reported a standalone net profit of Rs 3,051.5 crore in the first quarter of fiscal 2021 as against Rs 3,203.1 crore in the year-ago quarter, registering a fall of 4.71 percent. However, net profit was better than CNBC-TV18 analysts' poll estimates of Rs 2698.8 crore.

HDFC Q1 net profit falls 4.7% to Rs 3,051 crore; NII rises 8.4% to Rs 3,392 crore
The country's largest mortgage lender Housing Development Finance Corporation Ltd (HDFC) reported a standalone net profit of Rs 3,051.5 crore in the first quarter of fiscal 2021 as against Rs 3,203.1 crore in the year-ago quarter, registering a fall of 4.71 percent. However, net profit was better than CNBC-TV18 analysts' poll estimates of Rs 2698.8 crore.
Net interest income (NII) rose 8.4 percent to Rs 3,392 crore from Rs 3,129.8 crore. NII was in-line with the street expectations while net interest margin during the quarter fell by 20 bps to 3.1 percent from 3.3 percent, compared annually again.
The total revenue increased 0.2 percent to Rs 13,017.7 crore from Rs 12,990.3 crore.
HDFC's total loans under moratorium-2 fell to 22.4 percent from 27 percent in moratorium-1.
Among these, individual loans under moratorium 2 were at 16.6 percent versus 22.6 percent in moratorium 1. Corporate loans under moratorium-2 accounted for 22.4 percent of total corporate loan book compared with 27 percent under moratorium 1.
As on June 30, 2020, AUM  stood at Rs 5,31,555 crore as against Rs 4,75,993 crore, YoY.
On the asset quality front, gross non-performing assets (NPA) in the June quarter fell to 1.87 percent from 1.99 percent in the March quarter.
The mortgage lender made total provisions of Rs 4,452 crore in Q1FY21. Out of this, Rs 1,999 crore was made towards provisioning of standard assets and Rs 2,453 crore towards non-performing assets.
Overall provisions as of June 20 stood at Rs 12,285 crore.
At 2:40 pm, the shares of HDFC Ltd were trading 2.78 percent lower at Rs 1,827.20 on the BSE.
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