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Housing Development Finance fiscal Q4 net profit jumps 30.8% YOY

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Housing Development Finance fiscal Q4 net profit jumps 30.8% YOY

HousingDevelopment Finance Corp. Ltd.'s net profit for the fiscal fourthquarter ended March 31 rose 30.8% year over year on the back of a jump inprofit on sale of investments and an increase in premium income.

The company's net profit after tax attributable toshareholders rose to 34.60 billion rupees from 26.46 billion rupees in theprior-year period. EPS for the quarter rose year over year to 21.45 rupees from16.59 rupees.

Profit on sale of investments for the quarter surged to14.76 billion rupees from 2.58 billion rupees in the year-ago quarter, whilepremium income from the insurance business increased to 65.78 billion rupeesfrom 57.37 billion rupees.

Income from operations climbed to 83.89 billion rupees from79.23 billion rupees in the year-ago quarter.

For the fiscal full year ended March 31, the company's netprofit after tax attributable to shareholders rose 16.3% year over year to101.90 billion rupees from 87.63 billion rupees. EPS for the full year rose to63.59 rupees from 55.30 rupees.

The company's board also recommended a final dividend of 14rupees per share. Together with an interim dividend of 3 rupees per share, the full-yeardividend came to 17 rupees per share, up from 15 rupees per share in theprevious fiscal year.

As of April 29, US$1was equivalent to 66.37 Indian rupees.