BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Housing Development Finance Corp.’s core profit before tax grew 19% YoY to Rs 33.4 billion (estimate of Rs 34.2 billion).
Net interest income (excluding-assignment income) at Rs 40.3 billion was 4% above our estimate.
On the other hand, provisions at Rs 7.2 billion were much higher than our estimate of Rs 3.8 billion.
Better-than-expected mark-to-market gains on investment led to a 12% beat on reported profit after tax (up 9 QoQ/42% YoY).
For FY21, core profit before tax/core operating profit grew a healthy 15%/17% YoY to Rs 126 billion/Rs 146 billion, despite an additional employee stock ownership plan charge of Rs 3.4 billion.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.