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The share price of NBFC-major Housing Finance Development Corp (HDFC) was taking massive heat from investors, after the company posted a weak Q3FY19 in terms of net profit. At around 1454 hours, HDFC share price was trading at Rs 1908.55 per piece down by Rs 40.05 or 2.06% on BSE. However, the shares have tumbled by more than 2.50% as HDFC has also touched an intraday low of Rs 1902.65 on the index. Apart from posting a decline profit after tax (PAT), there were host of actions taken place in HDFC.
Here's a list of five key takeaways from HDFC Q3FY19 result.
PAT halves, revenue rises! 
HDFC recorded a net profit of Rs 2,113.8 crore in Q3FY19 which was not even half or down by 60.11% compared to net profit of Rs 5,300 crore in the same period a year ago. Q3FY19 PAT also tumbled by 14.31% as against Rs 2,467.08 crore in the preceding quarter. 
On the other hand, HDFC's revenue from operation stood at Rs 10,450.4 crore in Q3FY19, witnessing rise of 20.41% from Rs 8,678.73 crore in Q3FY18 and was also up by 3.07% from Rs 10,138.38 crore in Q2FY19. 
Opposite trend in 9MFY19! 
For the nine month period of FY19, HDFC's revenue from operation stands at Rs 30,472.41 crore increasing by 17.84% versus Rs 25,857.40 crore in 9MFY19. 
However, the net profit has been weak to Rs 6,770.88 crore lower by 22.19% as against Rs 8,702.58 crore a year ago same period. 
Issuance of NCD! 
In its meeting held today, HDFC board approved issuance of secured redeemable non-convertible debentures (NCD) aggregating up to Rs 45,000 crore in various tranches on private placement basis. 
This is subject to approval of shareholders of HDFC now, which will be decided at the 41st annual general meeting of the company.
<blockquote data-lang="en"><a href="https://twitter.com/hashtag/ZBizExclusive?src=hash&amp;ref_src=twsrc%5Etfw">#ZBizExclusive</a> | फ्यूचर में सिर्फ रहेंगे बड़े रियल एस्टेट डेवलपर्स, छोटे रियल एस्टेट डेवलपर्स का रास्ता होगा साफ: अजय पीरामल, चेयरमैन, पीरामल ग्रुप<a href="https://twitter.com/anuragshah710?ref_src=twsrc%5Etfw">@anuragshah710</a> <a href="https://twitter.com/PiramalGroup?ref_src=twsrc%5Etfw">@PiramalGroup</a> <a href="https://t.co/xdPkAhDvmY">pic.twitter.com/xdPkAhDvmY</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1090174185211613184?ref_src=twsrc%5Etfw">January 29, 2019</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>Appointment of Independent Director! 
HDFC has appointed Ireena Vittal as an Independent Director for a period of 5 years with effect from January 30,2019.
HDFC affirms that Vittal is not debarred from holding office of director by virtue of any order passed by SEBI or any other such authority and is not related to any directors or key managerial personnel of the company.  
Who is Ireena Vittal?
Vittal is among India's most respected consultant and advisor. She was a partner with Mckinsey &amp; Co, for 16 years where she served global companies on issues of growth and sustainable scale up.
She also served government and public institution to design and implement solutions core to India's development such as inclusive urban development and sustainable rural growth. 
Vittal holds a B.Sc. in electronics from Osmania University and a PGDM from IIM Calcutta and has co-authored several studies relating to agriculture and urbanisation.
She is also an independent director on several boards including Titan, Indian Hotels, Wipro, Cipla, Godrej Consumer and Compass.

The share price of NBFC-major Housing Finance Development Corp (HDFC) was taking massive heat from investors, after the company posted a weak Q3FY19 in terms of net profit. At around 1454 hours, HDFC share price was trading at Rs 1908.55 per piece down by Rs 40.05 or 2.06% on BSE. However, the shares have tumbled by more than 2.50% as HDFC has also touched an intraday low of Rs 1902.65 on the index. Apart from posting a decline profit after tax (PAT), there were host of actions taken place in HDFC.Here's a list of five key takeaways from HDFC Q3FY19 result.PAT halves, revenue rises! HDFC recorded a net profit of Rs 2,113.8 crore in Q3FY19 which was not even half or down by 60.11% compared to net profit of Rs 5,300 crore in the same period a year ago. Q3FY19 PAT also tumbled by 14.31% as against Rs 2,467.08 crore in the preceding quarter. On the other hand, HDFC's revenue from operation stood at Rs 10,450.4 crore in Q3FY19, witnessing rise of 20.41% from Rs 8,678.73 crore in Q3FY18 and was also up by 3.07% from Rs 10,138.38 crore in Q2FY19. Opposite trend in 9MFY19! For the nine month period of FY19, HDFC's revenue from operation stands at Rs 30,472.41 crore increasing by 17.84% versus Rs 25,857.40 crore in 9MFY19. However, the net profit has been weak to Rs 6,770.88 crore lower by 22.19% as against Rs 8,702.58 crore a year ago same period. Issuance of NCD! In its meeting held today, HDFC board approved issuance of secured redeemable non-convertible debentures (NCD) aggregating up to Rs 45,000 crore in various tranches on private placement basis. This is subject to approval of shareholders of HDFC now, which will be decided at the 41st annual general meeting of the company.#ZBizExclusive | फ्यूचर में सिर्फ रहेंगे बड़े रियल एस्टेट डेवलपर्स, छोटे रियल एस्टेट डेवलपर्स का रास्ता होगा साफ: अजय पीरामल, चेयरमैन, पीरामल ग्रुप@anuragshah710 @PiramalGroup pic.twitter.com/xdPkAhDvmY— Zee Business (@ZeeBusiness) January 29, 2019Appointment of Independent Director! HDFC has appointed Ireena Vittal as an Independent Director for a period of 5 years with effect from January 30,2019.HDFC affirms that Vittal is not debarred from holding office of director by virtue of any order passed by SEBI or any other such authority and is not related to any directors or key managerial personnel of the company.  Who is Ireena Vittal?Vittal is among India's most respected consultant and advisor. She was a partner with Mckinsey &amp; Co, for 16 years where she served global companies on issues of growth and sustainable scale up.She also served government and public institution to design and implement solutions core to India's development such as inclusive urban development and sustainable rural growth. Vittal holds a B.Sc. in electronics from Osmania University and a PGDM from IIM Calcutta and has co-authored several studies relating to agriculture and urbanisation.She is also an independent director on several boards including Titan, Indian Hotels, Wipro, Cipla, Godrej Consumer and Compass.

The share price of NBFC-major Housing Finance Development Corp (HDFC) was taking massive heat from investors, after the company posted a weak Q3FY19 in terms of net profit. 

Top 4 takeaways from HDFC result; the drop is shocking

news-top-4-takeaways-from-hdfc-result-the-drop-is-shocking-82729

The share price of NBFC-major Housing Finance Development Corp (HDFC) was taking massive heat from investors, after the company posted a weak Q3FY19 in terms of net profit. At around 1454 hours, HDFC share price was trading at Rs 1908.55 per piece down by Rs 40.05 or 2.06% on BSE. However, the shares have tumbled by more than 2.50% as HDFC has also touched an intraday low of Rs 1902.65 on the index. Apart from posting a decline profit after tax (PAT), there were host of actions taken place in HDFC. Heres a list of five key takeaways from HDFC Q3FY19 result. PAT halves, revenue rises!  HDFC recorded a net profit of Rs 2,113.8 crore in Q3FY19 which was not even half or down by 60.11% compared to net profit of Rs 5,300 crore in the same period a year ago. Q3FY19 PAT also tumbled by 14.31% as against Rs 2,467.08 crore in the preceding quarter.  On the other hand, HDFCs revenue from operation stood at Rs 10,450.4 crore in Q3FY19, witnessing rise of 20.41% from Rs 8,678.73 crore in Q3FY18 and was also up by 3.07% from Rs 10,138.38 crore in Q2FY19.  Opposite trend in 9MFY19!  For the nine month period of FY19, HDFCs revenue from operation stands at Rs 30,472.41 crore increasing by 17.84% versus Rs 25,857.40 crore in 9MFY19.  However, the net profit has been weak to Rs 6,770.88 crore lower by 22.19% as against Rs 8,702.58 crore a year ago same period.  Issuance of NCD!  In its meeting held today, HDFC board approved issuance of secured redeemable non-convertible debentures (NCD) aggregating up to Rs 45,000 crore in various tranches on private placement basis.  This is subject to approval of shareholders of HDFC now, which will be decided at the 41st annual general meeting of the company. #ZBizExclusive | फ्यूचर में सिर्फ रहेंगे बड़े रियल एस्टेट डेवलपर्स, छोटे रियल एस्टेट डेवलपर्स का रास्ता होगा साफ: अजय पीरामल, चेयरमैन, पीरामल ग्रुप@anuragshah710 @PiramalGroup pic.twitter.com/xdPkAhDvmY — Zee Business (@ZeeBusiness) January 29, 2019 Appointment of Independent Director!  HDFC has appointed Ireena Vittal as an Independent Director for a period of 5 years with effect from January 30,2019. HDFC affirms that Vittal is not debarred from holding office of director by virtue of any order passed by SEBI or any other such authority and is not related to any directors or key managerial personnel of the company.   Who is Ireena Vittal? Vittal is among Indias most respected consultant and advisor. She was a partner with Mckinsey Co, for 16 years where she served global companies on issues of growth and sustainable scale up. She also served government and public institution to design and implement solutions core to Indias development such as inclusive urban development and sustainable rural growth.  Vittal holds a B.Sc. in electronics from Osmania University and a PGDM from IIM Calcutta and has co-authored several studies relating to agriculture and urbanisation. She is also an independent director on several boards including Titan, Indian Hotels, Wipro, Cipla, Godrej Consumer and Compass.