HDFC Q4FY22 Results: Company’s profit rises 16% YoY to Rs 3,700 cr; India's largest mortgage lender announces Rs 30 dividend

Index heavyweight Housing Development Finance Corporation (HDFC) on Monday reported robust set of earnings in fourth quarter of the financial year 2021-22 (Q4FY21). Along with a surge in top and bottom-line numbers, the company’s asset quality during March quarter improved.  

HDFC, the country's largest mortgage lender, reported a 16 per cent rise in its standalone net profit to Rs 3,700 crore in the March 2022 quarter as compared to Rs 3,180 crore in the year-ago period. 

While the net profit of HDFC on a consolidated basis surged 21.6 per cent during Q4 FY22 to Rs 6,892 crore, against Rs 5,669 crore in Q4FY21. 

Total income during the March 2022 quarter increased to Rs 12,308.46 crore from Rs 11,707.53 crore in the year-ago period, HDFC Ltd said in a regulatory filing. Income during the quarter on a consolidated basis, however, fell to Rs 35,060 crore from Rs 35,754 crore a year ago. It added. 

The company's board has also recommended a dividend of Rs 30 per equity share for FY22, HDFC said. The dividend payout ratio is 40 per cent. 

"In the month of March 2022, the Corporation recorded its highest monthly individual disbursements ever. This is despite the fact that the previous year entailed concessional stamp duty benefits in certain states, which were not there in the current year," it said. 

“As of March 31, 2022, the gross individual non-performing loans (NPLs) stood at 0.99% of the individual portfolio, while the gross non-performing non-individual loans stood at 4.76% of the non-individual portfolio,” HDFC said in its press statement. 

The gross NPLs as of March 31, 2022, stood at Rs Rs 10,741 crore, which is equivalent to 1.91% of the portfolio, it added. 

Shares of HDFC closed over 1 per cent higher to Rs 2259 apiece on the BSE, as compared to a 0.18 per cent fall in the S&P BSE Sensex.