HDFC Q4 net up 39% top Rs 28.5 bn on healthy net interest margins

Total dividend for FY18 Rs 20 per share; Net interest imcome up 13%, lender focuses strongly on affordable housing

Mortgage major Housing Development Finance Corporation’s (HDFC) net profit for the fourth quarter ended March 2018 rose by 39 per cent to Rs 28.46 billion on back of healthy net interest margin.

It had posted a net profit of Rs 20.44 billion in January-March 2017.

Its net profit for the year ended March 2018 (FY18) rose to Rs 121.64 billion compared to Rs 74.43 billion in the year ended March 2017.

HDFC Stock closed 1.44 per cent higher at Rs 1,884 per share on the Bombay Stock Exchange.

The Board of Directors recommended payment of final dividend of Rs 16.50