New Delhi: Mortgage lender HDFC for the March quarter reported a standalone net profit of 16 per cent to Rs 3,700 crore from Rs 3,180 crore recorded in the corresponding period of last year.
The company’s total income during the reported quarter rose to Rs 12,308 crore from Rs 11,707 crore in the year-ago period, HDFC said in a regulatory filing.
Net interest income of HDFC increased by 14 per cent to Rs 4,601 crore in Q4FY22, aided by higher loan growth, while the net interest margin of the firm for the year stood at 3.5 per cent.
Net profit of the lender rose to Rs 13,742 crore in 2021-22 against Rs 12,027 crore in 2020-21.
On a consolidated basis, the net profit during Q4FY22 surged 21.6 per cent to Rs 6,892 crore, against Rs 5,669 crore in the fourth quarter of 2020-21.
However, income during the quarter on a consolidated basis declined to Rs 35,060 crore from Rs 35,754 crore a year ago.
The board has also recommended a dividend of Rs 30 per equity share. The payout ratio of dividend is 40 per cent.
In 2021-22, individual approvals and disbursements grew by 38 per cent and 37 per cent, respectively, compared to the preceding fiscal year.
"In the month of March 2022, the company 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," HDFC said in statement.
On the BSE, HDFC shares were trading at Rs 2253.55 apiece during the afternoon session, up by 1.14 per cent from the previous close.