HDFC posts 29 pc hike in Q4 net, declares dividend

New Delhi, May 3: Housing Development Finance Corporation Ltd (HDFC) today posted 28.96 per cent hike in its net profit at Rs 550.05 crore for the fourth quarter ended March 31, 2007, as against Rs 426.52 crore during the corresponding period last year.

HDFC's total income has increased to 39.76 per cent at Rs 1,732.95 crore for the quarter ended March 31, 2007 from Rs 1,239.90 crore as compared to corresponding quarter last year.

The Board of Directors has recommended a dividend of Rs 22 per equity share for the financial year 2006-07 (Rs 20.00 per equity share for the previous year), a company statement said.

The financial institution has seen a growth of 24.90 per cent in its net profit at Rs 1,570.38 crore for the year ended March 31, 2007, as compared to Rs 1,257.30 crore over the same period last year.

Its total income has recorded a 37.81 per cent increase at Rs 5,896.26 crore for the year ended March 31, 2007, against Rs 4,278.39 crore during the corresponding period last fiscal.

UNI