Non-banking financing company in India Housing Development Finance Corporation Ltd., or HDFC, reported a higher net profit for the fourth-quarter, both on stand-alone and consolidated basis, on increased income.
Stand-alone Results
The Mumbai-based company posted a fourth-quarter stand-alone net profit of Rs.1,555.21 crore or Rs.9.95 per share, while it reported Rs.1,326.14 crore or Rs.8.84 per share in the previous year quarter. Net profit and earnings per share grew by 17 and 13 percent respectively.
Quarterly net income from operations was Rs.5,561.20 crore, up by 16 percent from the Rs.4,805.69 crore during the same period last year, while profit on sale of investments and other income totaled Rs.104.88 crore, compared with Rs.79.06 crore in the corresponding quarter last year.
For fiscal year, the company's stand-alone net profit amounted to Rs.4,848.34 crore, compared with Rs.4,122.62 crore last year, an increase of 18 percent. Total income, including profit on sale of investments and other income, increased by 22 percent to Rs.21,112.50 crore from the Rs.17,332.77 crore a year-ago.
Consolidated Results
For the fourth-quarter, HDFC's consolidated net profit attributable to the corporation and its subsidiaries rose by 17 percent to Rs.2,083.12 crore from the Rs.1,776.74. crore in the year-ago quarter. On a per share basis, earnings for the quarter was Rs.13.33, up by 13 percent from the Rs.11.84 per share in Q4FY12.
Its consolidated quarterly total income, including profit on sale of investments, premium income from insurance business and other operating income from insurance business, increased by 19 percent to Rs.11,035.17 crore from Rs.9,273.69 crore in the previous year.
Income for the quarter from 'Loans' segment rose by 15 percent to Rs.5,882.89 crore from the Rs.5,101.25 crore last year, while that of 'Life Insurance' totaled Rs.4,561.88 crore, up by 20 percent from the Rs.3,786.41 crore in Q4FY12.
Income for the quarter from 'General Insurance' segment amounted to Rs.411.40 crore, compared with Rs.295.29 core in the preceding year, an increase of 39 percent, whereas that of 'Asset Management' was Rs.244.24 crore, up by percent from the Rs.173.94 crore a year-ago. Income for the quarter from 'Others' was Rs.83.96 crore, compared with Rs.66.73 crore last year.
For the fiscal year, its consolidated net profit attributable to the corporation and its subsidiaries stood at Rs.6,639.72 crore, higher by 22 percent than the Rs.5,462.51 crore in 2012. Total income, including profit on sale of investments, premium income from insurance business and other operating income from insurance business, increased by 19 percent to Rs.35,948.18 crore from the Rs.30,275.78 crore in the previous year.
At March 31, the loan book stood at Rs.170,046 crore, compared with Rs.140,875 crore in the previous year. The above excludes the loans sold during the preceding 12 months amounting to Rs.5,175 crore, the company said.
HDFC's total borrowings as on March 31 were Rs.158,828 crore, up from Rs.139.128 crore in the preceding year.
Its Board has recommended a dividend of Rs.12.50 per equity share of Rs.2 each for the fiscal year 2013. The dividend, if approved, will be paid from the day after the July 19 AGM.
HDFC closed Wednesday's trading at Rs.885.60, up Rs.32.85 or 3.85 percent on a volume of 338,000 shares at the BSE.
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