Latest News | HDFC Shares Fall 1 Pc After Q4 Earnings

New Delhi, May 26 (PTI) Shares of housing finance firm HDFC Ltd on Tuesday fell by nearly 1 per cent after the company reported a 10 per cent decline in consolidated net profit for the fourth quarter ended March 31.

On the BSE, the stock declined 0.95 per cent to close at Rs 1,502.15. During the day, it dipped 1.98 per cent to Rs 1,486.45.

Also Read | Earnings of Sensex Companies to Decline Up to 8 Percent in FY 2020–21: Analyst.

The stock fell 0.64 per cent to close at Rs 1,506.40 on the NSE.

On traded volume terms, 3.57 lakh shares of the firm were traded on the BSE and 1.27 crore units on the NSE during the day.

Also Read | Reliance Launches JioMart Across 200 Cities; Analysts Say Company Eyeing Spike in Online Grocery Orders.

The housing finance firm on Monday reported a 10 per cent decline in consolidated net profit to Rs 4,341.58 crore for the fourth quarter ended March 31.

The company's net profit (before adjustment of minority interest) was Rs 4,811.26 crore in January-March quarter of 2018-19.

On standalone basis, the profit of HDFC during the quarter slipped by 22 per cent at Rs 2,232.55 crore as against Rs 2,861.58 crore in the same quarter previous fiscal.

"In the fourth quarter, the factors that impacted the result include - extra provisioning due to COVID-19 requirement, dividend income was Rs 2 crore compared to Rs 537 crore last year and profit on sale of investments was Rs 2 crore as against Rs 321 crore," HDFC Ltd Vice Chairman and CEO Keki Mistry said.

Market was closed on Monday for 'Id-Ul-Fitr'.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)