Financial Insights

HDFC reports 16% jump in net profits

Private lender HDFC reported a 16% YoY growth in profits from Rs 3,179.83 crore to Rs 3,700.32 crores for the quarter ended in March 2022.

The Net Interest Income of the lender grew 14% from Rs 4,027 crore to Rs 4,601 crores. It’s revenues for the quarter were Rs 12,308.46 crores, up 5% YoY.

The company’s total expenditure saw a marginal decline as the company had lower Finance costs during the quarter.

“In the fourth quarter of the financial year under review, the non-individual loan book recorded a growth, with a good pipeline of loans from lease rental discounting and construction finance. The demand for home loans and pipeline of loan applications continues to remain strong. Growth in home loans was seen in both, the affordable housing segment, as well as, in high end properties. The increasing sales momentum and new project launches augur well for the housing sector,” said HDFC.

The Board has recommended a dividend of Rs 30 per share for the year ended on 31st March 2022. The share of HDFC appears to be in a downtrend since mid-November 2021 as it trades around Rs 2,264 per share, a price range it hadn’t touched since December 2020.

Highlight by Aman Agarwal.

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