Mortgage lender HDFC on Monday reported a 28.63% rise in consolidated net profit at Rs 3,961.17 crore for the quarter ended March 31, 2018.
The company had registered a net profit of Rs 3,079.33 crore in the January-March quarter of the previous financial year (2016-17).
Total income during the quarter grew 17.78% to Rs 21,248.79 crore as against Rs 18,040.59 crore in the year-ago period, HDFC said in a regulatory filing.
In the entire 2017-18, the net profit was up 47% to Rs 16,254.96 crore from Rs 11,051.12 crore in 2016-17.
On a standalone basis, HDFC posted 39.23% rise in net profit at Rs 2,846.22 crore in the reported quarter as compared to Rs 2,044.2 crore earlier.
Total income grew 13.14% to Rs 9,633.89 crore as against Rs 8,514.51 crore in year-ago period.
Total income in the full financial year grew to Rs 69,141.67 crore from Rs 61,087.63 crore in 2016-17.
The company’s board recommended a final dividend of Rs 16.50 per equity share of face value of Rs 2 each for 2017-18.
In a separate fling, HDFC announced appointment of Upendra Kumar Sinha and Jalaj Ashwin Dani as independent directors (additional directors) on the board for a period of 5 years with effect from April 30, 2018, subject to the approval of the members at the ensuing AGM.
It also announced resignation of D M Sukthankar, Non-Executive Director and D N Ghosh, Independent Director from the board with effect from April 30.