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Business News/ Companies / Company Results/  Q4 Results: HDFC Bank declares dividend 19.50 per equity share
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Q4 Results: HDFC Bank declares dividend ₹19.50 per equity share

Q4 Results: HDFC Bank reports 37 per cent rise in its net profit at ₹16,512 crore for the fourth quarter of FY24

HDFC Bank shares ended 2.5 per cent higher on Friday. BloombergPremium
HDFC Bank shares ended 2.5 per cent higher on Friday. Bloomberg

Q4 Results:  HDFC Bank on Saturday said its Board of Directors has recommended a dividend of 19.50 per equity share of Re. 1/- each fully paid up (i.e. 1950 per cent) out of the net profit for the fiscal year ended March 31, 2024.

The company has fixed May 10, 2024 as the record date to determine the eligibility of shareholders entitled to receive the dividend.

ALSO READ: HDFC Bank Q4 Earnings: Net profit rises 37% YoY to 16,512 crore, Retail loans lead with 108.9% growth

In a stock exchange filing, HDFC Bank said: “…we are pleased to inform that the Board of Directors, at its meeting held today, has recommended a dividend of Rs. 19.50 per equity share of Re. 1/- each fully paid up (i.e. 1950 %) out of the net profits for the year ended March 31, 2024, subject to the approval of the shareholders at the ensuing Annual General Meeting (“AGM") of the Bank."

“The record date for determining the eligibility of members entitled to receive dividend on equity shares is Friday, May 10, 2024," it added.

“Dividend, if approved by the shareholders of the Bank, shall be paid after the AGM to those shareholders, whose names appear in the Bank's Register of Members/ Register of Beneficial Owners maintained by the Depositories viz., National Securities Depository Limited and Central Depository Services (India) Limited as at the close of business hours on Friday, May 10, 2024, 2024," HDFC Bank also said. 

Financial Results

HDFC Bank on on Saturday announced its financial results for the fourth quarter (January-March period) of fiscal year 2024 (FY24).

India’s largest private lender reported 37 per cent rise in its net profit at 16,512 crore for the fourth quarter of FY24. 

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Its consolidated revenue surged by 133.6 per cent to 80,700 crore in the Q4 FY24 from 34,550 crore a year ago.

Its earnings per share (EPS) for the March quarter stood at 23.2 and book value per share as of March 31, 2024 was at 600.8.

HDFC Bank also said that the gross non-performing asset (NPA) stood at 1.24 per cent in the Q4 FY24, down from 1.26 per cent in the Q3 FY24. On the other hand, the net NPA for the fourth quarter stood at 0.33 per cent as compared to 0.31 per cent.

HDFC Bank shares ended 2.5 per cent higher on Friday. 

 

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Published: 20 Apr 2024, 03:14 PM IST
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