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HDFC net profit dips

MUMBAI: The housing major, Housing Development Finance Corporation (HDFC) on Monday reported a net profit (profit after tax) of Rs. 2,282.54 crore for the year ended March 31, 2009, as compared to Rs. 2,436.25 crore in the previous year. It recorded a net profit of Rs. 733.37 crore for the quarter ended March 31, 2009, as compared to Rs. 768.12 crore in the year-ago period. The board has recommended a dividend of Rs. 30 per share of Rs. 10 each for 2008-09 against Rs. 25 per share in the previous year. “The total profit before tax and exceptional items for the year stood at Rs. 3,219.04 crore (Rs. 2,737.23 crore),” it said in a release.During the year, total assets increased to Rs. 96,994 crore from Rs. 81,099 crore, an increase of 20 per cent.

As at March 31, 2009, the loan book stood at Rs. 85,198 crore as against Rs. 73,328 crore, an increase of 16 per cent. Loan approvals during the year were Rs. 49,166 crore as compared to Rs. 42,520 crore in the previous year and disbursements Rs. 39,650 crore (Rs. 32,875 crore). Capital adequacy ratio stood at 15.1 per cent of the risk weighted assets, as against the minimum requirement of 12 per cent. Tier-I capital adequacy was 13.2 per cent against a minimum requirement of 6 per cent.

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