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HDFC Q2 – Strong and steady show continues

HDFC’s ability to deliver a consistent performance, in spite of its large size and high competition, justifies the premium valuation to its peer group

November 02, 2021 / 03:57 PM IST
HDFC Q2 – Strong and steady show continues

Representative image.

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

HDFC (CMP: Rs 2,889, MCAP: 531,612 crore) has reported a net profit of Rs 3,780 crore in the second quarter of FY22 as against Rs 2,870 crore in the corresponding period last year, a growth of 32 percent year on year (YoY). While a sharp rise in dividend income lifted profit, the net interest income (NII) saw a healthy growth of 13 percent YoY, driven by a strong growth in loans and steady margin. HDFC saw a strong pick-up in...

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