HDFC Q4FY23 Result: Company's profit increased by 20%, will also pay Rs 44 per share dividend

Housing Development Finance Corporation ie HDFC released the fourth quarter results on Thursday. The company's profit grew by nearly 20% to Rs 4,425 crore on a year-on-year basis from Rs 3,700 crore. At the same time, interest income ie Net Interest Income (NII) increased from Rs 4,601 crore to Rs 5,321 crore in this quarter. HDFC's performance in Q4 has been better than the market estimates.
The company has also decided to pay Rs 44/share dividend. Its record date has been fixed as May 16. The dividend will be paid on June 1. HDFC stock today hit a fresh 52-week high of Rs 2,867 on the back of good results. It closed at Rs 2,862, up Rs 74.25 or 2.12%. HDFC opened at Rs 2,785 today. HDFC also made a low of Rs 2,779.95 in the day's trade. It closed at Rs 2787 yesterday.
HDFC's total income in the fourth quarter stood at Rs 16,679 crore with a 35.6% jump on an annual basis. On the other hand, the gross non-performing asset ratio fell from 1.49% to 1.18% on a quarterly basis. Individual gross NPAs declined from 0.86% to 0.75% on a quarterly basis. Non-individual gross NPA has come down from 3.89% to 2.90%. Tax outgo for the quarter stood at Rs.973 crore as against Rs.922 crore a year ago.
On investment and sale of investment properties, HDFC posted a profit of Rs 4 crore in the quarter ended March. It had incurred a loss of Rs 97 lakh in the same period a year ago i.e. Q4FY22. Dividend income for the quarter stood at Rs 206.83 crore as against Rs 128 crore a year ago. Fees and commission income increased to Rs 94.4 crore from Rs 78.3 crore a year ago.
The company's asset under management (AUM) stood at over Rs 7.2 lakh crore at the end of March. While it was Rs 6.54 lakh crore in the same period last year. On an AUM basis, the growth in the individual loan book stood at 17%. Growth in total loan book on an AUM basis stood at 11%.
HDFC is the leading housing finance company in India. HDFC was incorporated as a public limited company on 17 October 1977. It was promoted by the Industrial Credit and Investment Corporation of India.
The company received the certificate of commencement of business on 3 December. Its founder is HT Parekh. Over the last four decades, HDFC has diversified its business into banking, life insurance, general insurance, asset management, real estate venture funding and education loans.