Housing Development Finance Corporation Limited (HDFC) on Thursday reported a 21.6 percent fall in its Q4 net profit on account of increase in finance costs and other expenses.
The lender posted Rs 2,044.20 crore in Q4 net profit for 2016-17 against Rs 2,607.05 crore in the last quarter of fiscal 2015-16.
While finance cost of the lender rose to Rs 5237.94 crore in Q4 from Rs 4869.87 crore in Q4 of 2015-16, other expenses rose to Rs 90.62 crore in Q4 against Rs 71.68 crore in the last quarter of 2015-16.
The board recommended final dividend of Rs 15 per equity share of face value of Rs 2 each for 2016-17.
The total dividend for the year (including the interim dividend of Rs 3 per equity share) is Rs 18 per equity share as against Rs 17 per equity share for the previous year.
Income from operations rose to Rs 8,453.41 crore in Q4 compared to Rs 7,690.67 crore in Q4 of 2015-16. However, it rose to Rs 8,133.78 crore in Q3 of last fiscal.
Tax expense of the lender decreased on an year-on-year basis to Rs 894 crore in Q4 of last fiscal against Rs 1035 crore. However, they rose by Rs 64 crore on a quarter-on-quarter basis.
The HDFC stock closed 0.42 percent or 6.65 points lower at Rs 1564.40 on the BSE.
The Mumbai-based lender is engaged in financing by way of loans for the purchase or construction of residential houses, commercial real estate and certain other purposes, in India.
The company's segments include loans, life insurance, general insurance, asset management and others. It offers insurance products, such as motor, health, travel, home and personal accident in the retail division, and customized products, such as property, marine, aviation and liability insurance in the corporate division.