HDFC’s Q4FY23 Results: The company’s profit increased by 20%, and the dividend will be Rs 44 per share

The fourth quarter results for the Housing Development Finance Corporation, or HDFC, were released on Thursday. On an annual basis, the company’s profit increased from Rs 3,700 crore to Rs 4,425 crore, an increase of nearly 20%.

The fourth quarter results for the Housing Development Finance Corporation, or HDFC, were released on Thursday. On an annual basis, the company’s profit increased from Rs 3,700 crore to Rs 4,425 crore, an increase of nearly 20%. In addition, interest income, or Net Interest Income (NII), increased this quarter from Rs 4,601 crore to Rs 5,321 crore. The fourth quarter of HDFC’s performance exceeded market expectations.

The business also chose to distribute a dividend of Rs 44 per share. The 16th of May has been set as the record date. On June 1, the dividend will be paid. Due to strong results, HDFC stock today reached a new 52-week high of Rs 2,867. It increased Rs 74.25 or 2.12% to close at Rs 2,862. HDFC began trading today at Rs 2,785. The day’s trading saw HDFC reach a low of Rs 2,779.95 as well. Yesterday, it had closed at Rs 2787.

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Annual increase in total income of 35.6%

HDFC’s total income in the fourth quarter was Rs 16,679 crore, a 35.6% increase year on year. The gross non-performing asset ratio, on the other hand, fell from 1.49% to 1.18% on a quarterly basis. On a quarterly basis, individual gross NPAs fell from 0.86% to 0.75%. The non-individual gross NPA has decreased from 3.89% to 2.90%. The tax outgo for the quarter was Rs.973 crore, compared to Rs.922 crore the previous year.

The property’s sale generated a profit of $4 crore.

In the three months that ended in March, HDFC reported a profit of Rs 4 crore from the purchase and sale of investment properties. In the same period, or Q4FY22, it had suffered a loss of Rs 97 lakh. Compared to the same period last year, dividend income for the quarter was Rs 206.83 crore, up from Rs 128 crore. From Rs 78.3 crore a year ago, fees and commission income increased to Rs 94.4 crore.

AUM exceeded Rs 7.2 lakh crore.       

At the end of March, the company’s asset under management (AUM) totaled more than Rs 7.2 lakh crore. When compared to the same period last year, it was Rs 6.54 lakh crore. The increase in the individual loan book was 17% on an AUM basis. On an AUM basis, the total loan book grew by 11%.

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The top housing finance company is HDFC.

The top housing finance company in India is HDFC. On October 17, 1977, HDFC became a public limited company. The Industrial Credit and Investment Corporation of India promoted it.

The business start-up certificate was given to the company on December 3. HT Parekh is its creator. In the past 40 years, HDFC has expanded its business to include banking, life insurance, general insurance, asset management, venture capital for real estate, and student loans.