HDFC Bank net up 37% in Q4; company recommends dividend of Rs 19.50 per share

New Delhi, (UNI) India’s largest private sector bank HDFC Bank on Saturday announced a jump of 37.1 per cent in net profit at Rs 16,511.85 crore for fourth quarter (January-March) of FY2023-24.

Total revenue of the company stood at Rs 47,240 crore for the Q4 (including Rs 7,340 crore from sale of its subsidiary HDFC Credila Financial Services Limited) showing a jump of 47.3 per cent over the same quarter in the previous financial year.

The Board of Directors has recommended a dividend of Rs 19.50 per share with a face value of Rs 1 for the year ended March 31, 2024. This would be subject to approval by the shareholders, according to regulatory filing by HDFC Bank with the stock exchanges.

Full year net profit was up 37.9 per cent at Rs 60,810 crore.

The gross Non-performing Assets of the bank were at 1.24 per cent of gross advances as of March 31, 2024 as against 1.12 per cent as on March 31, 2023.

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