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Wednesday, April 29, 2015

HDFC net profit increases 8% to Rs. 1,862 cr in Q4; to pay Rs. 13/share final

HDFC Ltd posted an 8 per cent rise in net profit for the fourth and last quarter ended March 2015 at Rs. 1,862 crore as against a profit of Rs. 1,723 crore in the year ago quarter.

Profit including the deferred tax liability on special reserve grew 15% at Rs. 1,982 crore.

The National Housing Bank has advised housing finance companies to create a deferred tax liability on the amount transferred to special reserve as a matter of prudence.

Individual loan disbursements grew by 16 per cent during the year. After adding back loans worth Rs. 8,249 crore sold in during the year (Rs 5,000 sold in Q4FY15), the individual book grew by 23%.

The average size of individual loans stood at Rs. 23.3 lakh as against Rs. 22.1 lakh in the previous year.

“The growth was in line with the December quarter. Further, the non-individual lending segment saw some pick-up as indicated earlier,” said Keki Mistry, Vice-Chairman and CEO, HDFC.

The ratio of individual to non-individual segment improved to 78:22 from 85:15 last year.

Net interest margin declined marginally to 4% from 4.06% a year ago.

Gross non-performing loans reduced a tad to 0.67% of the loan portfolio as at March 31, 2015 compared to 0.69% in the previous year.

As on March end 2015, the total loan book outstanding increased by 13% to Rs. 2.54 lakh crore as against Rs. 2.25 lakh crore as of March last year.

Full Year

For the full year April-March period, HDFC posted a 10% growth in the standalone profit at Rs. 5,990 crore in FY15 as compared with Rs. 5,440 crore in FY14.

Profit excluding the impact of deferred tax liability on special reserve grew 17% Rs. 6,355 crore for FY15.

On a consolidated basis, the profit growth was at 15% to Rs. 8,732 crore for the year ended March 31, 2015 after adjustment for redemption premium on Zero Coupon Debentures and impact of Deferred Tax Liability on Special Reserve.

The board of HDFC recommended a final dividend of Rs. 13 per equity share of face value Rs. 2 per share.

HDFC Ltd scrip ended down 2.34 per cent or Rs. 28.75 at Rs. 1,199 on Wednesday.

Source : Thehindubusinessline


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