HDFC’s share price was upbeat on Thursday ahead of the Q4 results that came out in the afternoon and after the results, the stock surged to hit a new 52-week high of ₹2,862.80.
What Happened: The company’s net interest income – the difference between the income a bank makes from its lending activities and the interest it pays to depositors – for the quarter stood at ₹5,321 crore, up 16% from the year-ago period. Total standalone revenue from operations jumped 35% in the March quarter to ₹16,679.43 crore from ₹12,299.99 crore in the corresponding quarter of last year.
At the end of the year ended March 31, the company’s assets under management stood at ₹7,23,988 crore as against ₹6,53,902 crore in the previous year. The company’s profits saw a 20% year-over-year jump at ₹4,425 crore. Basic earnings per share for the quarter stood at ₹24.19. The profits were much above street estimates of around ₹3,700-₹3,800 crore.
The company has also declared a ₹44/share dividend. The record date for the dividend is May 16, 2023. The dividend shall be paid from June 1 onwards.
Price Action: HDFC’s share price was up 2.57% to ₹2,859.40 in the late hours of trading on Thursday.
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