HDFC clocks net profit of Rs 2,862 crore in Q4 FY19

Housing Development Finance Corporation (HDFC) on Monday reported the fourth quarter 2018-19 net profit of Rs 2,862 crore on a revenue of Rs 11,580 crore.

In the corresponding period of the previous year, the net profit was Rs 2,257 crore while the revenue totalled Rs 9,317 crore.

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However, for the entire fiscal year 2018-19, the net profit declined to Rs 9,632 crore from Rs 10,959 crore in the previous year, though the revenue moved up to Rs 43,348 crore from Rs 40,689 crore.

Total expenses including finance cost, provision for impairment on financial instruments, employee benefit expenses increased to Rs 30,259 crore in FY 19 from Rs 27,518 crore in FY 18, said the housing finance company in a statement.

The board has recommended a final dividend of Rs 17.50 per share.

(With inputs from ANI)

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