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( 30 Jul 2020)
HDFC Q1 net profit down 4.73% at Rs 3051.52 cr

The company reported standalone net profit of Rs 3,051.52 crore for the quarter ended June 30, 2020 as compared to Rs 3203.10 crore in the same period last year, registering a year-on-year decline of 4.73 per cent.

Net revenue of the company rose by 0.21 per cent at Rs 13,017.68 crore in April-June quarter of this fiscal as against Rs 12,990.29 crore in the corresponding period last year.

During April-June quarter, operating expenses increased by 25.62 per cent to Rs 1,560.78 crore from Rs 1,242.50 crore in year ago period.

Other Income dipped by 72.34 per cent at Rs 1.61 crore versus (Jun'19 Rs 5.82 crore).

Operating Profit slipped by 2.48 per cent to Rs 11,456.90 crore as against Rs 11,747.79 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 2.69 per cent in June quarter.

Interest grew by 1.01 per cent y-o-y to Rs 7,817.05 crore, while Taxation decreased by 28.99 per cent at Rs 555.31 crore (Jun'19 Rs 782.01 crore).