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HDFC’s Q2 earnings indicate that housing finance business is back to normalcy

HDFC’s stock price is seen to move in tandem with the valuation of subsidiaries and associate companies

November 03, 2020 / 12:46 PM IST
HDFC’s Q2 earnings indicate that housing finance business is back to normalcy

HDFC (CMP: Rs 2,043, MCAP: 366,820 crore) has reported net profit of Rs 2,870 crore in the second quarter of FY21 compared with Rs 3,962 crore in the corresponding period last year, a decline of 28 per cent year on year (YoY). However, the net profit is not directly comparable with that of the previous year because of one-time transactions and exceptional items. After adjusting for exceptional items and one-time transactions, a like-for-like pre-tax profit shows a growth of 27...

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