HDFC Q4 net up 23% at Rs 1142 cr

Mumbai: Housing finance lender HDFC Ltd said its net profit rose by 23.2 per cent to Rs 1,141.9 crore for the quarter ended March, 2011.

The company had a net profit of Rs 926.3 crore in the January-March quarter of the previous fiscal, HDFC Ltd said in a filing to the Bombay Stock Exchange (BSE).

Total income rose to Rs 3,784.8 crore in the quarter ended March 31, from Rs 2,899.3 core in the corresponding period a year ago, registering an increase of 30.5 per cent.

The board proposed a dividend of 450 per cent or Rs 9 per share on the face value of Rs 2 each for the financial year 2010-11.

For the year ended March 31, 2011, the company reported a 25 per cent rise in its net profit at Rs 3,534.9 crore, compared to Rs 2,826.4 crore in the previous fiscal.

During the year, total income improved to Rs 12,878 crore from Rs 11,360.8 core in the previous fiscal.

On consolidated basis, the net profit of the bank increased by 40 per cent in 2010-11 to Rs 4,528.4 crore, against Rs 3,240.9 crore in the previous financial year.

Source: Financial Express