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HDFC Shares Fall 1 Percent After Company Reports 10 Percent Decline in Net Profit for Q4 Earnings

Image for representation. (Twitter/@HomeLoansByHDFC)

Image for representation. (Twitter/@HomeLoansByHDFC)

The stock fell 0.64 per cent to close at Rs 1,506.40 on the NSE. On traded volume terms, 3.57 lakh shares of the firm were traded on the BSE and 1.27 crore units on the NSE during the day.

Shares of housing finance firm HDFC Ltd on Tuesday fell by nearly 1 per cent after the company reported a 10 per cent decline in consolidated net profit for the fourth quarter ended March 31. On the BSE, the stock declined 0.95 per cent to close at Rs 1,502.15. During the day, it dipped 1.98 per cent to Rs 1,486.45.

The stock fell 0.64 per cent to close at Rs 1,506.40 on the NSE. On traded volume terms, 3.57 lakh shares of the firm were traded on the BSE and 1.27 crore units on the NSE during the day.

The housing finance firm on Monday reported a 10 per cent decline in consolidated net profit to Rs 4,341.58 crore for the fourth quarter ended March 31.

The company's net profit (before adjustment of minority interest) was Rs 4,811.26 crore in January-March quarter of 2018-19.

On standalone basis, the profit of HDFC during the quarter slipped by 22 per cent at Rs 2,232.55 crore as against Rs 2,861.58 crore in the same quarter previous fiscal.

"In the fourth quarter, the factors that impacted the result include - extra provisioning due to COVID-19 requirement, dividend income was Rs 2 crore compared to Rs 537 crore last year and profit on sale of investments was Rs 2 crore as against Rs 321 crore," HDFC Ltd Vice Chairman and CEO Keki Mistry said.

Market was closed on Monday for 'Id-Ul-Fitr'.

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