New Delhi: Mortgage lender Housing Development Finance Corp. Ltd (HDFC) on Monday reported 28.63% rise in consolidated net profit at Rs3,961.17 crore for the quarter ended 31 March 2018. The company had registered a net profit of Rs3,079.33 crore in the January-March quarter of the previous financial year (2016-17).
Total income during the quarter grew 17.78% to Rs21,248.79 crore as against Rs18,040.59 crore in the year-ago period, HDFC said in a regulatory filing. In the entire 2017-18, the net profit was up 47% to Rs16,254.96 crore from Rs11,051.12 crore in 2016-17.
On standalone basis, HDFC posted 39.23% rise in net profit at Rs2,846.22 crore in the reported quarter as compared to Rs2,044.2 crore earlier. Total income grew 13.14% to Rs9,633.89 crore as against Rs8,514.51 crore in year-ago period. Total income in the full financial year grew to Rs69,141.67 crore from Rs61,087.63 crore in 2016-17.
The company’s board recommended a final dividend of Rs16.50 per equity share of face value of Rs2 each for 2017-18.
In a separate fling, HDFC announced appointment of Upendra Kumar Sinha and Jalaj Ashwin Dani as independent directors (additional directors) on the board for a period of 5 years with effect from 30 April, 2018, subject to the approval of the members at the ensuing AGM.
It also announced resignation of D.M. Sukthankar, non-executive director and D.N. Ghosh, independent director from the board with effect from 30 April.
Shares of HDFC closed 1.44% higher at Rs1,884.65 per scrip on BSE.