HDFC announces dividend of Rs 30 per equity share
Highlights
- According to HDFC's board, the dividend payout ratio is 40 per cent
- The record date for dividend will be announced by the company later
- HDFC has reported 16% rise in its standalone net profit in the Q4 of FY 22
HDFC Ltd (Housing Development Finance Corporation Limited), the country's largest mortgage lender, has announced a dividend of Rs 30 per equity share for FY 22, the company said in a regulatory filing on Monday. According to the company's board, the dividend payout ratio is 40 per cent.
The dividend amount will be paid to HDFC shareholders after necessary regulatory approval. The company will announce the record date later.
The decision was announced by the company as it declared the results for the March 2022 quarter. The company reported a 16 per cent rise in its standalone net profit to Rs 3,700 crore in the quarter. The company had posted a net profit of Rs 3,180 crore in the year-ago period.
Total income during the March 2022 quarter increased to Rs 12,308.46 crore from Rs 11,707.53 crore in the year-ago period, the company said. For the full year 2021-22, the company's net profit rose to Rs 13,742 crore against Rs 12,027 crore in 2020-21.
On a consolidated basis, the net profit during Q4 FY22 surged 21.6 per cent to Rs 6,892 crore, against Rs 5,669 crore in Q4 FY21.
Income during the quarter on a consolidated basis, however, fell to Rs 35,060 crore from Rs 35,754 crore a year ago.
In FY22, individual approvals and disbursements grew by 38 per cent and 37 per cent, respectively, compared to the preceding fiscal.
"In the month of March 2022, the Corporation recorded its highest monthly individual disbursements ever. This is despite the fact that the previous year entailed concessional stamp duty benefits in certain states, which were not there in the current year," it said.
Shares of HDFC jumped 1.31 per cent on the NSE to close at Rs 2,259 on Monday. On the BSE as well, it jumped 1.55 per cent to trade at Rs 2262.70 apiece at 3:30 pm.
With PTI Inputs
