HDFC's September Quarter Net Profit Rises 32% To Rs 3,780 Crore

Housing Development Finance Corporation has reported a 32 per cent increase in its net profit for period ending September 30, 2021 at Rs 3,780 crore

Housing Development Finance Corporation (HDFC) has reported a 32 per cent increase in its net profit for period ending September 30, 2021 at Rs 3,780 crore. It was Rs 2,870 crore during the corresponding period of last year.

The profit for the mortgage lender rose mainly due to soaring dividend.

The dividend income for the second quarter was Rs 1,171 crore, up by a huge 263 per cent over the corresponding period of last year.

HDFC received the dividend income from holdings in its subsidiaries including HDFC Bank, HDFC Life Insurance and HDFC Asset Management Company, its vice chairman and CEO Keki Mistry said.