Analysts consider this performance of HDFC to be better than anticipated. He says that in this period of financial instability, the performance of the company will be considered good.
HDFC announced its financial results on Friday. According to the fourth quarter results, the company’s profit grew by 8.7 percent and reached Rs 3180 crore. During this period, the company’s interest income has fallen by 0.1 percent on a quarterly basis. 4065 crore in the fourth quarter of the financial year 2020-21, while in the third quarter it stood at Rs. 4068 crore.
Perform well in the eyes of analysts
Analysts consider it a better performance than anticipated. He says that in this period of financial instability, this performance of the company will be considered good. The company’s profit was estimated to be Rs 2816.1 crore and interest income was Rs 4,028.6 crore. Accordingly, the company’s performance is considered to be good. The company expects that its performance will be better in the first quarter of the new financial year. However, the magnitude of the second wave of Corona infection has raised some apprehensions about the results.
HDFC’s gross NPA increased
However, the company’s gross NPA has increased in the meantime. HDFC’s gross NPA was 1.91 per cent in the previous quarter, which increased to 1.98 per cent. During this period, the organization’s gross NPA has expanded by 7 premise focuses. The organization’s individual gross NPAs have expanded from 0.98 percent to 0.99 percent on a quarterly premise, while non-singular gross NPAs have been up 4.77 percent from 4.35 per cent on a quarterly basis. The company has done good business. But the increase in NPA remains a matter of concern. If the economy takes too long to get back on track, HDFC may face a challenge on this front.