HDFC Q4 profit up 11 pc at Rs 1,723 cr

Housing finance lender HDFC Ltd today reported a 10.8 per cent jump in net profit at Rs 1,723.10 crore for the fourth quarter ended March, 2014.

The company had a net profit of Rs 1,555.21 crore in the January-March quarter of the previous fiscal, HDFC Ltd said in a statement.

The total income rose to Rs 6,620.33 crore in the quarter ended March 31, from Rs 5,666.08 core in the corresponding period a year ago.

The board proposed a dividend of Rs 14 per share on the face value of Rs 2 each for the financial year 2013-14.

For the entire fiscal ended March 31, 2014, the company reported a 12.2 per cent rise in net profit at Rs 5,440.24 crore, compared to Rs 4,848.34 crore in 2012-13.

During the year, total income improved to Rs 24,143.01 crore from Rs 21,112.50 core in 2012-13.

Net Interest Margin of HDFC stood at 4.1 per cent at the end of March 2014.

As at March, 2014, the loan book stood at Rs 1,97,100 crore as against Rs 1,70,046 crore in the previous year, an increase of 16 per cent.

Loans sold during the preceding 12 months amounted to Rs 6,944 crore, of which Rs 5,317 crore was sold in the quarter ended March 31, 2014, it said.

With regard to asset quality, gross non-performing loans stood at Rs 1,357 crore at the end of FY'14. This is equivalent to 0.69 per cent of the portfolio.

On consolidated basis, the net profit of the company increased 20 per cent in 2013-14 to Rs 7,947.82 crore, against Rs 6,639.72 crore in the previous financial year.

The total income on consolidated basis during the quarter increased to Rs 12,296.02 crore from Rs 11,042.88 crore for the quarter ended March, 2013.

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