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HDFC Bank declares 13% dividend on Rs 17,486 cr net profit

HDFC Bank declares 13% dividend on Rs 17,486 cr net profit

Chennai: Private HDFC Bank on Saturday said it closed last fiscal with a net profit of Rs 17,486.75 crore.

The Board of Directors of HDFC Bank at its meeting on Saturday has recommended a dividend of Rs 13 per equity share of Rs 2 each out of the net profits for the year ended March 31, 2018.

In a regulatory filing in BSE, the bank said it had posted a net profit of Rs.17,486.75 crore for the year ended March 31, 2018 up from Rs 14,549.66 crore posted the previous fiscal.

The bank’s total income for the period under review stood at Rs 95,461.66 crore up from Rs 81,602.45 crore earned during the year ended March 31, 2017.

The bank had provided Rs 5,927.49 crore towards provisions and contingencies last fiscal up from Rs 3,593.30 crore provided for the year ended March 31, 2017.

The gross non-performing assets (NPA) stood at Rs 8,606.97 crore as on March 31, 2018 up from Rs.5,885.66 crore as on March 31, 2017.

The net NPA stood at Rs 2,601.02 crore up from Rs 1,843.99 crore last fiscal.

IANS