HDFC Shares Decline Nearly 1% After March Quarter Earnings

HDFC Q4: The board recommended a dividend of Rs 21 per equity share on face value of Rs 2 each

Housing Development Finance Corporation (HDFC) shares declined nearly 1 per cent on Tuesday, a day after the mortgage lender reported its financial results for the January-March period. HDFC stock price climbed as much as 3.39 per cent to touch the Rs 1,568 mark on the BSE, compared to its previous close of Rs 1,516.55. But it gave up all its gains and ended at Rs 1,502 on the BSE, down by Rs 14 or 0.9 per cent.

In a regulatory filing on Monday, HDFC posted a 22 per cent year-on-year decline in net profit for the March quarter, and declared a dividend of Rs 21 per equity share.

HDFC on Monday reported a net profit of Rs 2,232.53 crore for the quarter ended March 31. That marked a decline of 21.98 per cent compared to the corresponding period a year ago.

Its total revenue from operations came in at Rs 11,975.72 crore for the fourth quarter of financial year 2019-20. The company had reported a revenue of Rs 11,580.05 crore for the quarter ended March 31, 2019.

HDFC’s board recommended a dividend of Rs 21 per equity share of face value of Rs 2 each for financial year 2019-20.

The markets ended marginally lower, after a choppy session of trade, with the Sensex losing 0.21 per cent and Nifty shedding 0.1 per cent.

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