HDFC Q4 net rises 29% to Rs 3,961.17 crore

HDFC total income was up 18 percent at Rs 21,248.79 crore.

HDFC Q4 net rises 29% to Rs 3,961.17 crore

New Delhi: India's largest mortgage lender on Monday HDFC posted 29 percent growth in its fourth quarter profit ended March 31. HDFC Q4 rose 29 percent to Rs 3,961.17 crore while its total income was up 18 percent at Rs 21,248.79 crore, the company said in a BSE filing.

The company board has recommended a final dividend of Rs 16.50 per equity shares of face value Rs 2 each for FY 2017-2018. The total dividend for the year (including the interim dividend of Rs 3.50 per equity share) is Rs 20 per equity share against Rs 18 per equity share for the previous year.

The reported profit before tax for the year ended March 31 stood at Rs 15,264 crore compared to Rs 10,727 crore in the previous year – an increase of 42 percent.

Appointments

Independent directors of the Corporation, D N Ghosh and D M Sukthankar have resigned from the board. The board has appointed U K Sinha and Jalaj Dani as independent directors for a term of 5 years with effect from April 30, 2018, subject to the approval of members at the ensuing Annual General Meeting (AGM), HDFC said in a release.

The board has also re-appointed Mr. Keki M. Mistry as the Managing Director (designated as Vice-Chairman& Chief Executive Officer) of the Corporation for a period of three years, with effect from November 14, 2018, subject to the approval of members at the ensuing AGM.

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