HDFC Q4 profits rises 27% to 2,862 crore

New Delhi: Mortgage lender HDFC on Monday posted a 26.8 per cent rise in its standalone net profit at Rs 2,862 crore for the fourth quarter ended March 2019.

The company had reported a net profit of Rs 2,257 crore in the January-March quarter of the previous fiscal.

Total income during the quarter rose to Rs 11,586.58 cr as against Rs 9,322.36 cr in the year-ago period.

During the quarter, the net interest income improved to Rs 3,161 cr compared to Rs 2,650 cr in the corresponding quarter of the previous year, representing a growth of 19 per cent, HDFC said in a statement.

The board has proposed a final dividend of Rs 17.50 per share and the proposed final dividend is in addition to the interim dividend of Rs 3.50 per share declared by the board of directors on March 6, 2019, it said.

The total dividend for the year is Rs 21 as against Rs 20 per share for the previous year.

Besides, the board has also approved issuance of redeemable non-convertible debentures or any other hybrid instruments not in nature of equity shares up to Rs 1.25 lakh crore on private placement basis to fund its business growth.