Business

HDFC Q4 profit declines 10 per cent to Rs 4,342 crore

On a standalone basis, HDFC’s profit during the quarter declined by 222 per cent to Rs 2,232.55 crore from Rs 2,861.58 crore in the corresponding quarter of the previous fiscal. Housing finance firm HDFC Ltd reported a 10 per cent decline in consolidated net profit to Rs 4,341.58 crore for the fourth quarter ended March 31.

The company’s net profit (before adjusting for minority interest) in the January-March quarter of 2018-19 was Rs 4,811.26 crore.

HDFC Limited said in a regulatory filing that the board has proposed a dividend of Rs 21 per face value of Rs 2 per unit.



On a standalone basis, HDFC’s profit during the quarter declined by 222 per cent to Rs 2,232.55 crore from Rs 2,861.58 crore in the corresponding quarter of the previous fiscal.

During the quarter, net interest income increased to Rs 3,780 crore as compared to Rs 3,161 crore in the corresponding quarter last year.

For the entire financial year, net profit on standalone basis almost doubled to Rs 17,769.65 crore as against Rs 9,632.46 crore.

However, HDFC Limited said in a statement that the number of benefits for the year is not directly comparable to the previous year for various reasons, including additional provisions for the impact of COVID-19 of Rs 5,913 crore as compared to Rs 935 crore. . Previous Financial Year.

“The gross non-performing loan as on 31 March 2020 was Rs 8,908 crore. This is equivalent to 1.99 per cent of the loan portfolio. Non-performing loans accounted for 0.95 percent of the individual portfolios, while non-personal portfolios were 4.71 percent. ”

As per the norms of National Housing Bank (NHB), the company is required to make a total provision of Rs 4,188 crore. Of this, Rs 1,921 crore is for provision of standard assets and Rs 2,267 crore is towards non-performing assets.



Back to top button