HDFC Q4 net profit at Rs.550.05 crores, recommends dividend of Rs.22

Housing Development Finance Corporation Ltd (HDFC) has announced the Audited results for the quarter & year ended March 31, 2007. The results for the Quarter ended March 31, 2007: The Company has posted a net profit of Rs 5500.50 million for the quarter ended March 31, 2007 as compared to Rs 4265.20 million for the quarter ended March 31, 2006. Total Income has increased from Rs 12399.00 million for the quarter ended March 31, 2006 to Rs 17329.50 million for the quarter ended March 31, 2007.

The results for the Year ended March 31, 2007: The Company has posted a net profit of Rs 15703.80 million for the year ended March 31, 2007 as compared to Rs 12573.00 million for the year ended March 31, 2006. Total Income has increased from Rs 42783.90 million for the year ended March 31, 2006 to Rs 58962.60 million for the year ended March 31, 2007.

The Unaudited consolidated results for the Year ended March 31, 2007: The group has posted a profit after tax attributable to the Corporation of Rs 17419.80 million for the year ended March 31, 2007 as compared to Rs 13491.50 million for the year ended March 31, 2006. Total Income has increased from Rs 46492.50 million for the year ended March 31, 2006 to Rs 64253.00 million for the year ended March 31, 2007.

The figures for the consolidated results for the year ended March 31, 2006 are Audited.

The Board of Directors of the Company at its meeting held on May 03, 2007, inter alia, 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).

The Register of Members & Share Transfer Books of the Company will remain closed from June 14, 2007 to June 27, 2007 (both days inclusive) for the purpose of payment of dividend & 30th Annual General Meeting of the Company to be held on June 27, 2007.

Source : Equity Bulls

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