The largest private sector bank ‘HDFC Bank’ has given great news to its investors. The bank today announced the March quarter financial results (HDFC Bank Q4 Result) on Saturday. Along with this, the largest private bank also announced a huge dividend of 1900% (HDFC Bank Dividend).
Such investors will benefit
HDFC Bank told the stock exchanges that its board of directors has recommended a dividend of Rs 19 per share of face value of Re 1 to investors from the net profit for the financial year ended March 31, 2023. In this way, the investors of the bank are going to get 1900 percent dividend. The bank has fixed the record date for paying dividend on May 16, 2023. This means that according to the shareholding pattern of May 16, 2023, the investors who hold shares of HDFC Bank will be entitled to receive the payment of this dividend.
higher dividend than last time
Earlier, HDFC Bank had given a dividend of more than 1500 percent to its investors for the last financial year i.e. 2021-22. At that time, the bank had given a dividend of Rs 15.50 on every share of face value of Rs 1, ie 1550 percent. In this way, HDFC Bank is going to give 22.58 percent more dividend than a year ago.
The profit of the bank increased so much
Let us tell you that in the March quarter, HDFC Bank’s net profit increased by 20.6 percent to Rs 12,594.47 crore. The bank gave this information while releasing the financial results of the fourth and last quarter of the financial year 2022-23 on Saturday. A year ago i.e. in the March 2022 quarter, the net profit of the bank was Rs 10,443.01 crore.
decrease on quarterly basis
However, if we look at quarter by quarter instead of annual basis, then the profit of HDFC Bank has come down. HDFC Bank had a net profit of Rs 12,698.32 crore in the October-December 2022 quarter. During the entire financial year 2022-23, this private bank has earned a net profit of Rs 45,997.11 crore, which was Rs 38,052.75 crore in the financial year 2021-22.
increase in income
On a standalone basis, the bank’s profit grew by 19.81 per cent to Rs 12,047.45 crore, while the bank’s total income rose to Rs 53,850 crore from Rs 41,086 crore in the previous year. The total provisioning for loan losses and other items stood at Rs 2,685.37 crore in the January-March 2023 quarter, as against Rs 3,312.35 crore in the January-March 2022 quarter. The gross non-performing asset (NPA) ratio stood at 1.12 per cent at the end of March, compared to 1.17 per cent at the end of March 2022 and 1.23 per cent in the December quarter.
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