HDFC net profit slips to Rs 9,632 crore in FY19; recommends dividend of Rs 17.50
In the March quarter of FY19, HDFC posted a standalone net profit of Rs 2,861.58 crore, and saw its total revenue from operations increase to Rs 11,580.05 crore
- May 13, 2019,
- Updated May 13, 2019 2:10 PM IST
Housing Development Finance Corporation (HDFC) posted a standalone net profit of Rs 9,632.46 crore during the financial year 2018-19. The housing finance company had posted a net profit after tax of Rs 10,959.34 crore in the previous fiscal, translating into a decline of 12.10 per cent.
The total revenue from operations for HDFC during the financial year ended March 31, 2019, however, grew in comparison to the last financial year. The total revenue from operation during FY19 was Rs 43,348.04 crore, as opposed to 40,689.22 crore posted during FY18. The company's Net Interest Income (NII) for FY19 rose to Rs 11,403 crore compared to Rs 9,635 crore in the previous year, representing a growth of 18 per cent.
For asset quality, HDFC saw its gross Non Performing Assets (NPAs) at Rs 4,777 crore up until March 31, 2019. This amount is equivalent to 1.18 per cent of the loan portfolio. The non-performing loans of the individual portfolio stood at 0.70 per cent while that of the non-individual portfolio stood at 2.34 per cent.
The lender posted an interest income of Rs 39,240.24 crore during the year under review, as opposed to Rs 33,133.08 crore in the previous financial year. Revenue from dividend income also increased to Rs 1,130.64 crore from Rs 1,079.28 crore. However, profit on sale of investments took a hit during the past fiscal, falling down to Rs 1,212.35 crore as opposed to Rs 5.609 crore during FY18.
Housing Development Finance Corporation (HDFC) posted a standalone net profit of Rs 9,632.46 crore during the financial year 2018-19. The housing finance company had posted a net profit after tax of Rs 10,959.34 crore in the previous fiscal, translating into a decline of 12.10 per cent.
The total revenue from operations for HDFC during the financial year ended March 31, 2019, however, grew in comparison to the last financial year. The total revenue from operation during FY19 was Rs 43,348.04 crore, as opposed to 40,689.22 crore posted during FY18. The company's Net Interest Income (NII) for FY19 rose to Rs 11,403 crore compared to Rs 9,635 crore in the previous year, representing a growth of 18 per cent.
For asset quality, HDFC saw its gross Non Performing Assets (NPAs) at Rs 4,777 crore up until March 31, 2019. This amount is equivalent to 1.18 per cent of the loan portfolio. The non-performing loans of the individual portfolio stood at 0.70 per cent while that of the non-individual portfolio stood at 2.34 per cent.
The lender posted an interest income of Rs 39,240.24 crore during the year under review, as opposed to Rs 33,133.08 crore in the previous financial year. Revenue from dividend income also increased to Rs 1,130.64 crore from Rs 1,079.28 crore. However, profit on sale of investments took a hit during the past fiscal, falling down to Rs 1,212.35 crore as opposed to Rs 5.609 crore during FY18.