On Wednesday, the Housing Development Finance Corporation (HDFC) announced a 19.5% increase in its net profit to Rs 4,425.5 crore for the quarter ending March 31 (Q4FY23), compared to Rs 3,700.32 crore in the same quarter in 2021-22 (Q4FY22). The company also declared an interim dividend of Rs 44 per share.
The board approved Tuesday, May 16, 2023, as the Record Date for determining shareholders entitled to the interim dividend for the financial year ending March 31, 2023. HDFC’s total revenue from operations increased by 35.6% YoY to Rs 16,679.43 crore, and its interest income rose by 38.5% to Rs 15,432.9 crore in the quarter.
Additionally, the board approved the reappointment of Mathew Joseph as the chief risk officer of the corporation with effect from June 1, 2023, for six months or until the effective date of the ongoing merger between HDFC and HDFC Bank Limited, whichever is earlier.
