 "HDFC Bank's Q4 consolidated net profit rises 15.4% to Rs 7,280 cr")
Private sector lender HDFC Bank on Saturday reported a 15.4 per cent rise in consolidated net profit at Rs 7,280.22 crore for the fourth quarter of 2019-20.
The bank had posted a net profit of Rs 6,300.81 crore during the corresponding January-March period of 2018-19.
The consolidated total income during the March quarter of 2019-20 increased to Rs 38,287.17 crore, from Rs 33,260.48 crore a year ago, the bank said in a regulatory filing.
The bank said it will not make any further dividend payouts from profit pertaining to 2019-20, in line with RBI directives announced on Friday.
The central bank had debarred lenders from dividend payouts so that they can conserve capital in an environment of heightened uncertainty caused by the COVID-19 crisis.
Accordingly, the board of directors of HDFC Bank, at their meeting held on Saturday, did not propose any final dividend for the year ended March 31, 2020, it added.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%