HDFC Q4 reports increase in both topline and bottomline

HDFC Q4 reports increase in both topline and bottomline
Housing Development Finance Corporation Limited (HDFC) came out with its fourth quarter FY11 results, wherein it reported a net profit of Rs 1,141.95 crore as compared to Rs 926.38 crore during the corresponding period last year, marking a growth of 23.3 per cent.

Net interest income surged by 17.4 per cent to Rs 1,511 crore as against Rs 1,287 crore. Total Income for the period was reported at Rs 3,784.86, registering a growth of 30.5 per cent in the comparable quarter last year.

During the fiscal 2011, the institution"s loan approvals increased by 24 per cent to Rs 75,185 crore as compared to Rs 65,611 crore in the previous fiscal. Further, the aggregate loan disbursements for FY11 surged by 20 per cent to Rs 65,314 crore as against Rs 50,413 crore during FY10.

The Board of Directors of the company at its meeting held on May 10, 2011 has recommended a dividend of Rs 9 per equity share of face value Rs 2 each i.e. 450 per cent for the financial year 2010-11. The shares of the company closed at Rs 661.65, declining by 0.37 per cent on the BSE during today"s trade.

HDFC was established in 1977 with the primary objective of meeting a social need of encouraging home ownership by providing long-term finance to households. Over the last three decades, the institution has turned the concept of housing finance for the growing middle class in India into a world-class enterprise with excellent reputation for professionalism, integrity and impeccable service.

Read more about: hdfc, nbfc, bse, nse, loan, debt, bank
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