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HomeBusinessHDFC Q4 net profit up 16 per cent at Rs 3,700 crore

HDFC Q4 net profit up 16 per cent at Rs 3,700 crore

New Delhi, May 2 (PTI) Country’s largest home loan company HDFC Ltd reported a 16 per cent growth in its standalone net profit at Rs 3,700 crore for the fourth quarter of the last financial year ended January-March 2022.

The company has given this information to the stock exchanges.

In the same period a year ago, the company had made a net profit of Rs 3,180 crore.

HDFC Ltd said its total income rose to Rs 12,308.46 crore in the fourth quarter of FY 2021-22 from Rs 11,707.53 crore in the year-ago period.

The company’s net profit for the entire financial year 2021-22 stood at Rs 13,742 crore as against Rs 12,027 crore in the financial year 2020-21.

The company’s net profit on a consolidated basis in the fourth quarter rose 21.6 per cent to Rs 6,892 crore from Rs 5,669 crore in January-March 2021.

However, on a consolidated basis, the company’s income declined marginally to Rs 35,060 crore in the fourth quarter. It stood at Rs 35,754 crore in the same period a year ago.

Meanwhile, HDFC’s board has recommended a dividend of Rs 30 per share for the financial year 2021-22. The dividend payout ratio has been kept at 40 percent.

Individual approval and disbursement of loans increased by 38 per cent and 37 per cent respectively in FY 2021-22.

HDFC Ltd said, “The company recorded its highest ever monthly personal loan disbursement in the month of March. The loan disbursement has increased even though the concessional stamp duty benefits given in some states last year have not continued this year.

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