Q4 business updates: Heres how HDFC Bank, Bajaj Finance and other blue chips fared
Many financial, manufacturing, commodities, and energy companies have already released their updates for the quarter.
The fourth quarter of the financial year 2023 (Q4FY23) ended on March 31 and an array of companies from different sectors have already announced their business updates for the three months. The rest will follow suit soon. Some of the prominent names that have declared their Q4 business updates include HDFC Ltd, HDFC Bank, Bajaj Finance, Vedanta, Hindustan Zinc and Britannia Industries.
Let's take a quick look at how the bluest of the blue chips fared in the January-March period:
Bajaj Finance: The company recorded an impressive 20 per cent year-over-year growth in new loan bookings, thereby touching a record-high figure in FY23. The non-banking financial company distributed 7.6 million new loans during the period as compared to 6.3 million logged in the corresponding quarter of the previous fiscal.
The company had core assets under management (AUM) of Rs 2.47 lakh crore as of March 31, a 29 per cent increase from the year-ago period. In the March quarter alone, its AUM grew by around Rs 16,500 crore.
HDFC Ltd: The mortgage lender shared its March quarter updates on Tuesday, April 4. The company said it witnessed a loan growth of 11.6 per cent to Rs 9,340 crore in the March quarter. The company sold loans worth Rs 8,367 crore in the same quarter last year.
During the quarter under review, gross dividend income increased to Rs 207 crore from Rs 128 crore.
Vedanta Limited: Vedanta also shared its Q4 update for FY 23. The company's aluminium production at the Lanjigarh refinery was down 7 per cent QoQ and 18 per cent YoY to 411 kt due to the planned calciner shutdown.
However, its cast metal aluminium production increased 1 per cent QoQ to 574 kt with the Jharsuguda ramp-up.
HDFC Bank: India's largest lender by market capitalisation HDFC Bank for the March quarter, reported strong loan growth, with a roughly 17 per cent increase over the same period last year. As of March 2023, the bank had advances of Rs 16 lakh crore, up from Rs 13.6 lakh crore in March 2022.
"Gross of transfers through inter-bank participation certificates and bills rediscounted, the Bank’s advances grew by around 21.3% over March 2022, and around 6.5% over December 2022," HDFC Bank said in a filing.
Hindustan Zinc Limited: Hindustan Zinc reported its best-ever quarterly mined metal production at 301kt since the UG transition, up 2 per cent YoY and 19 per cent QoQ, driven by higher ore production and improved mined metal grades.
The company said that its highest-ever quarterly refined metal production stood at 269kt, up 3 per cent YoY and 5 per cent QoQ, on account of better plant and mined metal availability.
Britannia Industries: The company's board has approved an interim dividend of Rs 72 per share for the financial year ended March. This is the highest dividend being paid by the FMCG company since 2020.
“The record date for determining the eligibility of shareholders for payment of the interim dividend is Thursday, April 13,” Britannia Industries said in an exchange filing.
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