HDFC Q4 net profit rises 16% to Rs 3,700 crore
NEW DELHI: The country’s largest mortgage lender HDFC Ltd on Monday reported a 16 per cent rise in its standalone net profit to Rs 3,700 crore in the March 2022 quarter. The company had posted a net profit of Rs 3,180 crore in the year-ago period.
Total income during the March 2022 quarter increased to Rs 12,308.46 crore from Rs 11,707.53 crore in the year-ago period, HDFC Ltd said in a regulatory filing. For the full year 2021-22, the company’s net profit rose to Rs 13,742 crore against Rs 12,027 crore in 2020-21. On a consolidated basis, the net profit during Q4 FY22 surged 21.6 per cent to Rs 6,892 crore, against Rs 5,669 crore in Q4 FY21.
Income during the quarter on a consolidated basis, however, fell to Rs 35,060 crore from Rs 35,754 crore a year ago. The company’s board has also recommended a dividend of Rs 30 per equity share for FY22, HDFC said. The dividend payout ratio is 40 per cent. In FY22, individual approvals and disbursements grew by 38 per cent and 37 per cent, respectively, compared to the preceding fiscal.
“In the month of March 2022, the corporation recorded its highest monthly individual disbursements ever. This is despite the fact that the previous year entailed concessional stamp duty benefits in certain states, which were not there in the current year,” it said. Shares of HDFC were trading at Rs 2253.55 apiece in the afternoon session on BSE, up by 1.14 per cent from the previous close.