HDFC on Monday reported a 1.6 percent year-on-year (YoY) decrease in standalone net profit at Rs 3,000.67 crore for the April-June quarter of FY22 (Q1FY22). The company had posted a profit of Rs 3,051.5 crore in the year-ago period. The mortgage lender said its interest income stood at Rs 10,523.36 crore, down 2.48 percent from Rs 10,790.66 crore in the year-ago quarter. Total income stood at Rs 11,663.14 crore, down from Rs 13,019.29 crore. The profit number was above the market estimates, as a CNBC-TV18 poll of analysts had expected Q1 profit at Rs 2,898.7 crore. On a consolidated basis, profit after tax stood at Rs 5,311 crore as compared to Rs 4,059 crore in the previous year, representing a growth of 31 percent. The profit before tax for the quarter ended June 30, 2021, stood at Rs 3,905 crore compared to Rs 3,607 crore in the previous year.
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