HDFC net jumps 31% to Rs5,311 cr in Jun qtr

India's largest mortgage lender HDFC on Monday reported 31 per cent jump in its consolidated net profit at Rs 5,311 crore in quarter ended June 2021. "The key risk to business remains a third wave and variants of the virus," it said. HDFC stock traded at Rs 2476.75 apiece on BSE, up 1.47 per cent from previous close.

The company had posted net profit of Rs 4,059 crore in the year ago same quarter. For the quarter ended June 30, 2021, the net profit attributable to the corporation stood at Rs 5,041 crore as compared to Rs 3,614 crore in the previous year, representing a growth of 39 per cent, HDFC said in a regulatory filing. Total income during Q1FY22 rose to Rs 30,997 crore from Rs 29,959 crore in Q1FY21. On the impact of the Covid-19, HDFC said the demand for housing continues to remain strong and business has reverted to normalcy in the months of June and July 2021.