HDFC Bank’s Q4 Performance (Image Source: iStockphoto)
HDFC Bank‘s financial performance for the January-March quarter of the fiscal year 2023-24 has been announced, with the bank reporting a net profit of Rs 16,511.85 crore.
In terms of net interest income (NII), HDFC Bank recorded Rs 29,007 crore, surpassing the previous quarter’s Rs 28,470 crore. However, the NII fell slightly short of market expectations, standing lower than the anticipated Rs 29,172 crore.
Regarding asset quality, the bank’s gross non-performing asset (NPA) decreased to 1.24 percent, down from 1.26 percent in the last quarter. Conversely, the net NPA for the quarter rose to 0.33 percent, compared to the previous 0.31 percent.
The Board of Directors of the company, in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, has proposed a dividend of Rs. 19.50 per equity share of Re. 1/- each fully paid up (i.e. 1950 per cent) from the net profits for the fiscal year ending March 31, 2024. This recommendation is subject to the approval of the shareholders at the upcoming Annual General Meeting (AGM) of the Bank.
As per the HDFC Bank’s filing on the NSE, “we are pleased to inform that the Board of Directors, at its meeting held today, has recommended a dividend of Rs. 19.50 per equity share of Re. 1/- each fully paid up (i.e. 1950 %) out of the net profits for the year ended March 31, 2024, subject to the approval of the shareholders at the ensuing Annual General Meeting (“AGM”) of the Bank. The record date for determining the eligibility of members entitled to receive dividend on equity shares is Friday, May 10, 2024.”
On Friday, the shares of HDFC Bank closed at Rs 1,534.20, 2.64 per cent up from the previous day’s closing. The 52 week high and low of the share is Rs 1,757.50 and Rs 1,363.55 respectively.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. TT Research DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
