HDFC Q3 net profit down 65%
Mumbai |
Updated on
Our Bureau
Housing Development Finance Corporation Ltd (HDFC) reported a 65.05 per cent drop in standalone net profit for the third quarter of the fiscal at ₹2,925.83 crore against ₹8,372.49 crore in the same period last fiscal.
“The profit numbers for the quarter ended December 31, 2020, are not directly comparable.To facilitate a like-for-like comparison, after adjusting for the above, the adjusted profit before tax for the quarter ended December 31, 2020, is ₹3,694 crore, compared to ₹ 2,908 crore in the previous year, reflecting a growth of 27 per cent,” said HDFC in a statement on Tuesday.
The profit numbers are not comparable due to fair value gain consequent to the merger of GRUH with Bandhan Bank of ₹9,020 crore.
Read more about Volumes spurt at Housing Development Finance Corporation Ltd counter on Business Standard. Housing Development Finance Corporation Ltd notched up volume of 6.27 lakh shares by 10:48 IST on BSE, a 4.59 fold spurt over two-week average daily volume of 1.36 lakh shares
Mortgage lender HDFC Ltd has signed an agreement to sell its 24.48per cent stake in Good Host, a company engaged in the business of managing student housing facilities, for Rs 232.81 crore, according to a regulatory filing. The corporation has today entered into a share purchase agreement for sale of 47,75,241 equity shares of Re 1 each, representing 24.48 per cent of the issued and paid-up share capital of Good Host, Housing Development Finance Corporation Ltd (HDFC) said in the late night regulatory filing on Wednesday.
HDFC said the aggregate sale consideration for the sale shares is Rs 232.81 crore which is subject to various customary adjustments as agreed between the parties, and the final sale consideration shall be calculated accordingly.
January 21, 2021
× The bullish momentum for the stock markets will continue on Thursday too, as the global cues and Asian markets indicate positive beginning. The SGX Nifty, which is currently ruling at 14,705, is pointing a gap-up of opening of about 50 points for Nifty50. The January futures of Nifty50 closed on Wednesday at 14,645.
All eyes are on the BSE Sensex, as it is tantalising close to 50,000 historical mark.
Overnight, the Dow Jones Industrial Average rose 257.86 points, or 0.83 per cent, to 31,188.38, the S&P 500 gained 52.94 points, or 1.39 per cent, to 3,851.85 and the Nasdaq Composite added 260.07 points, or 1.97 per cent, to 13,457.25.
Benchmarks of Japan, Nikkei, Taiwan, Korea, Jakarta, China and Australia are ruling firm in early trade on Thursday.
HDFC to sell 24.48% share in Good Host for Rs 232.81 cr
HDFC had acquired 25.01 per cent stake in Good Host in August 2018 for Rs 69.5 crore
PTI | January 21, 2021 | Updated 12:24 IST
Good Host would cease to be an associate company of the corporation, HDFC said.
Mortgage lender HDFC Ltd has signed an agreement to sell its 24.48per cent stake in Good Host, a company engaged in the business of managing student housing facilities, for Rs 232.81 crore, according to a regulatory filing. The corporation has today entered into a share purchase agreement for sale of 47,75,241 equity shares of Re 1 each, representing 24.48 per cent of the issued and paid-up share capital of Good Host, Housing Development Finance Corporation Ltd (HDFC) said in the late night regulatory filing on Wednesday.