February 24, 2024

Housing Finance Development

It's Your Housing Finance Development

HDFC Q4FY23 net profit up 20%, dividend declared

Housing Development Finance Corporation (HDFC) Ltd posted a standalone net profit of 4,425.50 crore for the quarter ended March, up nearly 20% from 3,700.32 crore in the same quarter previous fiscal. 

The total revenue from operations for Q4FY23 jumped 35.6% on year to 16,679.43 crore from 12,299.99 crore.

An interim dividend of 44 per share for FY23 has been approved by the company’s board.

On Thursday’s trade, the non-banking financial company (NBFC) stock touched a 52-week high of 2,867 per share on the BSE. 

Following the Q4FY23 results, shares of the private banking company gained over 2% on Thursday’s trade. At 14:54 IST, the stock was trading at 2,856 per share on BSE. 

HDFC Bank share price hits life-time high. Buy, sell or hold?

The company’s net interest income (NII) increased 16% year over year to 5,321 crore during the quarter from 4,600.9 in Q4FY22. The bank’s provisions grew 4.8% year over year to 436.57 crore.

According to an exchange filing, the spreads were at 2.29% and the net interest margin was 3.6%.

As of the end of March, the company had a capital adequacy ratio of 24.3% and a liquidity coverage ratio of 127.7%. For FY23, HDFC reported a 25.5% increase in revenue to 60,177.07 crore from 47,957.07 and an 18.2% year-on-year (YoY) growth in net profit to 16,239.36 crore from 13,742.18.

In comparison to 6.54 lakh crore the year before, the company’s assets under management (AUM) were over 7.2 lakh crore as of March’s end.

“On an AUM basis, the growth in the individual loan book was 17%. On maturity, certain non-individual exposures have been run down to ensure compliance with banking norms in lieu of the impending merger with HDFC Bank. The growth in the total loan book on an AUM basis was 11%,” said HDFC in an exchange filing.

In comparison to 0.99% a year ago, the gross individual NPLs as of March 31 represented 0.75 percent of the individual portfolio. Gross non-performing non-individual loans made for 2.90 percent of the non-individual portfolio, down from 4.7 percent a year earlier.

On Thursday, shares of the company closed 2.64% higher at 2,862.35 per share on BSE.

HDFC Q4 Results: Firm announces dividend, check details here






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Updated: 04 May 2023, 02:43 PM IST