HDFC Q4 Results: Net profit Surges 20% To Rs 4,425 Crore

HDFC, India's leading housing finance company, announced a 20% jump in its net profit for the fourth quarter. The company's net profit stood at Rs 4,425 crore ($593 million), compared to Rs3,700.32 crore ($496 million) in the same quarter last year.

The company's net interest income (NII) rose by 16 per cent to Rs 5,321 crore compared with Rs 4,601 crore in the same period last year.

The mortgage lender has announced an interim dividend of Rs 44 per share of face value of 2 each for FY23, with the record date for determining the eligible shareholders set for Tuesday, May 16. The dividend will be paid starting from Thursday, June 1.

Additionally, interest earned during the quarter surged by 35%, reaching Rs 16,679.43 crore compared to Rs 12,299.99 crore in the same period last year. Following the release of the results, the stock rose 2.23% and reached a high of Rs 2,850.80 on BSE.