HDFC Q4 net profit jumps 26 per cent

The company, which saw income from interest fall during the period under review, had posted a net profit of Rs 733.37 crore a year ago, it said in a filing to the BSE.
Total income declined to Rs 2,899.32 crore for the quarter ended March 31, from Rs 3,153.61 crore of the corresponding period a year earlier. The board has approved the subdivision of the company’s shares in the ratio of 1:5, that is one share of Rs 10 will be slit into 5 shares of Rs 2 each — which will make it the first stock split of HDFC shares in over one decade.

The board also proposed a dividend of 360 per cent or Rs 36 per share on the face value of Rs 10 each for the financial year 2009-10.
HDFC reported an interest income of Rs 1,559.54 crore (including other charges), lower than the Rs 2,064.14 crore in the same period a year ago. For the year ended March 31, 2010, the country’s largest mortgage lender reported a jump of 40.27 per cent in its consolidated net profit at Rs 3,240.98 crore.