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HDFC Q4 First Cut – stable asset quality, collection efficiency nearly pre-covid level… Provision increases

·         Net profit Rs3180cr (up 42% YoY) – expectation Rs2846cr

·         GNPA 1.98% vs 1.91% (QoQ), Company approves Rs1.25tn via bond for one year period

·         GNPA 0.99% vs 0.98%, dividend Rs23 a share

·         Provision Rs719cr (up 21% QoQ) – expectation Rs385.5cr

·         NII Rs4065cr (up 14.7% YoY) - expectation Rs3888.8cr

·         Collection efficiency nearly pre-covid level

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