HDFC Q4 net jumps 27%, announces ₹17.50/share dividend1 min read . Updated: 13 May 2019, 01:50 PM IST
- 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.