Housing Development Finance Corporation Ltd's Q1FY20 standalone net profit rises 46.3% yoy (including profit on sale of investments) to Rs3,203cr : In-line with Estimates

The company’s standalone NII stood at Rs2,739cr, up 6.91% yoy but down 14.43% qoq.

Aug 02, 2019 02:08 IST India Infoline Research Team

Housing Development Finance Corporation Ltd Q1FY20

Standalone Results Q1FY20: (Rs. in cr)

Q1FY20 YoY (%)
NII 2,739 6.9
Net Profit (adjusted) 3,203 46.3

HDFC LTD’s Q1FY20 revenue grew by 30.6% yoy to Rs12,990cr. NII grew by 6.9% yoy to Rs2,739cr against Rs2,562cr in Q1FY19. The housing finance company’s net profit was in line with consensus estimates, an improvement of 46.3% yoy to Rs3,203cr. The net profit for the quarter includes profit on sale of investment of Rs1,894cr. Its GNPA for Q1FY20 stood at 1.29%, up by 7bps qoq. 

Technical View:

Housing Development Finance Corporation Ltd is currently trading at Rs. 2,129.10, up by 41.55 points or 1.99% from its previous closing of Rs. 2,087.55 on the BSE.
The scrip opened at Rs. 2,084 and has touched a high and low of Rs. 2,148.60 and Rs. 2,039.65 respectively. So far 44,05,344 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.

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