HDFC Q4 Net rises 29% at Rs 3,961 cr

Mortgage lender HDFC today reported 28.63 per cent rise in consolidated net profit at Rs 3,961.17 crore for the quarter ended March 31, 2018.

The company had registered a net profit of Rs 3,079.33 crore in the January-March quarter of the previous financial year (2016-17).

Total income during the quarter grew 17.78 per cent to Rs 21,248.79 crore as against Rs 18,040.59 crore in the year-ago period, HDFC said in a regulatory filing.

In the entire 2017-18, the net profit was up 47 per cent to Rs 16,254.96 crore from Rs 11,051.12 crore in 2016-17.

On standalone basis, HDFC posted 39.23 per cent rise in net profit at Rs 2,846.22 crore in the reported quarter as compared to Rs 2,044.2 crore earlier.

Total income grew 13.14 per cent to Rs 9,633.89 crore as against Rs 8,514.51 crore in year-ago period.

Total income in the full financial year grew to Rs 69,141.67 crore from Rs 61,087.63 crore in 2016-17.

The company's board recommended a final dividend of Rs 16.50 per equity share of face value of Rs 2 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 April 30, 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 April 30.

Shares of HDFC were trading 1.35 per cent higher at Rs 1,883 per scrip on BSE.