1. HDFC board recommends dividend of Rs 15 per share for 2016-17

HDFC board recommends dividend of Rs 15 per share for 2016-17

HDFC posted a 21.58 per cent year-on-year drop in standalone net profit at Rs 2,044.20 crore as compared to Rs 2,607.05 crore year ago.

By: | Published: May 4, 2017 3:47 PM
HDFC posted a 21.58 per cent year-on-year drop in standalone net profit at Rs 2,044.20 crore as compared to Rs 2,607.05 crore year ago. (Reuters)

Housing Development Finance Corporation Ltd (HDFC) announced its fourth quarter results on Thursday and said that its board has recommended a final dividend of Rs 15 per equity share of face value of Rs 2 each for the financial year 2016-17.

In a BSE filing it said, “The dividend, if approved by the Members, will be paid on Thursday, July 27, 2017. The total dividend for the year (including the interim dividne of Rs 3 per equity share) is Rs 18 per equity share as against Rs 17 per equity share for the previous year.

The financing major posted a 21.58 per cent year-on-year drop in standalone net profit at Rs 2,044.20 crore as compared to Rs 2,607.05 crore year ago. The net profit figures are lower year-on-year was the one-off profit on sale of investments of Rs 1,519.86 crore in same quarter last year.

For the quarter under review, the provisions jumped 26.49 per cent QoQ to Rs 148 crore, but on YoY basis they were down 73 per cent from Rs 545 crore in the same quarter last year. Total income (standalone) for the reported quarter also fell to Rs 8,514.51 crore as against Rs 9,225.72 crore a year earlier. Consolidated net profit in entire 2016-17 rose to Rs 11,051.12 crore from Rs 10,190.26 crore. Consolidated income or the year was at Rs 61,087.63 crore, as against Rs 53,257.11 crore earlier.

Shares of the company closed 0.42 per cent down at 1564.40. The BSE Sensex ended 231.41 points up at 30,126.21.

 

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