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.
ICICI Direct Report
Housing Development Finance Corporation Ltd. posted a healthy operational performance with net interest income growth of 22% YoY to Rs 4146 crore, driven by 3.7% margin expansion, up ~20 basis points QoQ, ~60 bps YoY.
Other income came in at Rs 995 crore, down 45% YoY, owing to higher profit from sale of investment in Q1 FY21.
Excluding this, other income has increased ~29% YoY.
Opex came in higher at Rs 550 crore, due to stock option related expense.
HDFC has made provisions worth Rs 686 crore during the quarter including Covid-19 provisions, taking cumulative Covid related buffer to Rs 1017 crore.
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