HDFC Q1 PAT dips 5% YoY to Rs 3,051 cr; Board approves to raise Rs 45K cr

Housing financier HDFC on Thursday noted a standalone web revenue of Rs 3,051.52 crore for June quarter of FY21 (Q1FY21), clocking a 4.seven per cent 12 months-on-12 months (YoY) de-expansion from Rs 3,203.1 crore-revenue noted in Q1FY20. Sequentially, the revenue grew 36.68 per cent from Rs two,232.five crore noted in the March quarter of FY20.

“During the quarter, the company marketed 26 million fairness shares of HDFC Existence, resulting in a pre-tax obtain of Rs 1,241.twenty crore” claimed the administration in a statement. The revenue from sale of investments was Rs two.forty five crore in the March quarter of FY20.

The non-financial institution finance company’s (NBFC) earnings from functions stood at Rs thirteen,017.68 crore for the quarter less than overview compared Rs twelve,990.29 crore gained in the former 12 months quarter. In Q4FY20, the identical was Rs 11,975.72 crore, which interprets into a 8.seven per cent sequential expansion.

Which includes other earnings, the overall earnings arrived in at Rs thirteen,019.29 crore, up just .01 per cent from Rs twelve,996.11 crore noted in Q1FY20.

Fund boosting

HDFC’s Board approved to increase resources up to Rs forty five,000 crore as a result of issuance of secured redeemable, non-convertible debentures on non-public placement basis.

Inventory response

The stock declined sharply right after the consequence announcement. At two:18 pm, the stock was investing 1.8 per cent reduce at Rs 1,832 apiece on the BSE as against 352 points, or .ninety two per cent, decrease in the S&P BSE Sensex at 37,719 amount. The stock had touched an intra-working day superior of Rs 1,900 earlier in the working day.