Photo: Mint
Photo: Mint

HDFC Q4 net jumps 27%, announces 17.50/share dividend

  • HDFC's net profit increased to 2,861.58 crore in the March quarter
  • HDFC shares rose over 1% in noon trade.

Mortgage lender HDFC today reported a 27% growth in net profit for the March quarter. Net profit in the March quarter increased to 2,861.58 crore in the March quarter, as compared to 2,256.68 crore in the same quarter of the previous year. This was higher than what the Street had estimated.

HDFC's total income rose to 11,586.58 crore in the March quarter, as compared to 9,322.36 crore in the same period of the previous year.

For the quarter ended March 31, 2019, the net interest income stood at 3,161 crore as compared to 2,650 crore in the corresponding quarter of the previous year, a growth of 19%.

According to National Housing Bank norms, the gross non-performing loans as of March 31, 2019, stood at 4,777 crore. This is equivalent to 1.18% of the loan portfolio. The non-performing loans of the individual portfolio stood at 0.70% while that of non-individual portfolio stood at 2.34%.

On an assets under management (AUM) basis, the growth of the individual loan book was 17%. The growth in the total loan book was 15%.

HDFC board has recommended final dividend of 17.50 per equity share. Shares traded nearly 1% higher at 1,947 in noon trade.