Monday, July 6, 2020
News

HDFC Q4 profit drops 22 pc to Rs 2,233 crore, declares dividend of Rs 21 per share

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Mumbai (Maharashtra) | May 25, 2020 3:41:39 PM IST
Housing Development Finance Corporation (HDFC) on Monday reported 22 per cent fall in net profit at Rs 2,233 crore for the January to March quarter.

The home loan lender had reported a profit of Rs 2,862 crore in the corresponding quarter of last year. It reported provisioning of Rs 1,274 crore, including the impact for COVID-19, for Q4 FY20 as compared to Rs 398 crore in Q4 FY19.

However, the company board announced a dividend of Rs 21 per share for FY20.

Net interest income for the quarter rose by 17 per cent to Rs 3,780 crore compared with Rs 3,238 crore in the year-ago quarter.

Besides, the net interest margin for the quarter came in at 3.4 per cent against 3.3 per cent in the same quarter last year.

The company said in a statement that 36 per cent of home loans approved in volume terms and 18 per cent in value terms in FY20 were to economically weaker section and low-income groups.

Recovery efforts were hampered in the latter half of March which resulted in an increase in individual non-performing loans.

HDFC said the gross non-performing loans on March 31 stood at Rs 8,908 crore or 1.99 per cent of the loan portfolio.

The non-performing loans of individual portfolio stood at 0.95 per cent while that of the non-individual portfolio was 4.71 per cent. (ANI)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
FAO warns India of locust attack, choppe...
Zydus gets Mexican regulator nod for Des...
Vroom Drive launches franchise program...
VIBGYOR Group of Schools announces list ...
Sri Sri Tattva launches its store on the...
Edelweiss Financial Services clocks FY20...
More...
 
INDIA WORLD ASIA
Akali Dal slams Punjab CM for 'misleadin...
ICMR's claim to launch COVID-19 vaccine ...
Four held for raping 44-yr-old woman in ...
Will nab Kanpur encounter main accused, ...
Chandigarh reports 21 new COVID-19 cases...
UK's most wanted: India-born Sahnan runs...
More...    
 
 Top Stories
Musk takes dig at Tesla short selle... 
Rupali Ganguly's show 'Anupamaa' to... 
Britain's Norris scripts F1 history... 
IT spending on Internet connectivit... 
Salman Khan-starrer 'Sultan' turns ... 
Airtel launches 'Priority 4G Networ... 
Cricket has really said nothing to ... 
Honda Siel Power Products now named...