The preparation of financial information in conformity with IFRS requires management, from time to time, to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. These estimates and associated assumptions are based on experience and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on- going basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected. Management did not make critical judgements in the application of accounting policies, apart from those involving estimations, which would significantly affect the financial statements.
Housing Development Finance Corporation (HDFC) rose 2.14% to Rs 2482.65 after the corporation reported 42.4% jump in standalone net profit to Rs 3,179.83 crore in Q4 FY21 as against Rs 2,232.53 crore in Q4 FY20.
Total income declined by 2.3% year-on-year (YoY) to Rs 11,707.53 crore in the fourth quarter. Profit before tax in Q4 FY21 stood at Rs 3,923.94 crore, up by 45.7% from Rs 2,692.44 crore in Q4 FY20.
HDFC reported 32.3% drop in standalone net profit to Rs 12,027.30 crore on 18% fall in total income to Rs 48,175.86 crore in the year ended 31 March 2021 over the year ended 31 March 2021.
The reported profit before tax for the year ended 31 March 2021 stood at Rs 14,815 crore, down by 27.2% from Rs 20,350.92 crore for the year ended 31 March 2021.
Domestic indices ended with decent gains on Friday amid positive global cues. The Nifty managed to close above the 14,800 mark after slipping below that level in intraday trade. PSU banks corrected while metals stocks extended rally on improved sectoral outlook.
The S&P BSE Sensex, rose 256.71 points or 0.52% to 49,206.27. The Nifty 50 index gained 98.35 points or 0.67% to 14,823.15.
The Sensex has risen 1.97% and the Nifty has climbed 2.25% in three consecutive sessions.
Global stock market advanced as investors welcomed an encouraging private jobs report from the United States that reinforced optimism that the world s top economy is well on the recovery track. The White House s support for a global waiver on patent protections for Covid-19 vaccines also cheered investors.
Domestic indices ended with decent gains on Friday amid positive global cues. The Nifty managed to close above the 14,800 mark after slipping below that level in intraday trade. PSU banks corrected while metals stocks extended rally on improved sectoral outlook.
The S&P BSE Sensex, rose 256.71 points or 0.52% to 49,206.27. The Nifty 50 index gained 98.35 points or 0.67% to 14,823.15.
The Sensex has risen 1.97% and the Nifty has climbed 2.25% in three consecutive sessions.
Global stock market advanced as investors welcomed an encouraging private jobs report from the United States that reinforced optimism that the world s top economy is well on the recovery track. The White House s support for a global waiver on patent protections for Covid-19 vaccines also cheered investors.
Domestic indices ended with decent gains on Friday amid positive global cues. The Nifty managed to close above the 14,800 mark after slipping below that level in intraday trade. Barring the Nifty PSU Bank index, all sectoral indices on the NSE ended in the green.
As per the provisional closing data, the S&P BSE Sensex, rose 256.71 points or 0.52% to 49,206.27. The Nifty 50 index gained 98.35 points or 0.67% to 14,823.85.
Global stock market advanced as investors welcomed a strong jobs report from the United States that reinforced optimism that the world s top economy is well on the recovery track. The White House s support for a global waiver on patent protections for Covid-19 vaccines also cheered investors.