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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 that ended in March 2022.
The Net Interest Income of the lender grew 14% from Rs 4,027 crore to Rs 4,601 crores. Its 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.
IDBI Bank Q4 results are live, read more.
“In the fourth quarter of the financial year under review, the non-individual loan book recorded growth, with a good pipeline of loans from lease rental discounting and construction finance. The demand for home loans and the pipeline of loan applications continue 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.
For the period of 12 months ended on 31st March 2022, the total income of the company saw a marginal decline on account of lower profits on investments. However, the company's profits grew 14.26% annually to Rs 13,742.18 crores. With this, the EPS stood at Rs 76.01 per share.
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.
Article by Aman Agarwal.
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