HDFC Q3: Healthy loan growth, but stressed assets inch up
Diversified businesses make HDFC a relatively less risky bet
February 03, 2021 / 12:05 PM IST
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 2,657, MCAP: 478,428 crore) reported a net profit of Rs 2,926 crore in the third quarter of FY21 compared to Rs 8,372 crore in corresponding period last year, a decline of 65 percent YoY. However, its net profit is not directly comparable with the previous year figure due to one-time transactions and exceptional items. In the year ago quarter, the company had recorded a fair value gain of Rs 9,020 due to the merger of its...