HDFC Q4FY18 standalone PAT jumps 39% at Rs 2,846 crore; firm to issue bonds worth Rs 85,000 crore

A poll of analysts expected HDFC to report PAT of Rs 2,550 crore in Q4FY18.

The Housing Development Finance Corp (HDFC) branch. Photo: Reuters

The largest housing finance service provider, HDFC, has surpassed analysts estimate by reporting a whopping over 39% in standalone net profit during the fourth quarter March 2018 results. HDFC posted PAT of Rs 2,846.22 crore in Q4FY18, rising by 39.23% from Rs 2,044.20 crore in the corresponding period of the previous year. A Bloomberg poll of analysts expected HDFC to report PAT of Rs 2,550 crore in Q4FY18. It may be noted that Q4FY18 net profit nearly halved compared to Rs 5,666.56 crore in the preceding quarter, witnessing a decline of 49.77% in this quarter.

Standalone revenue from operations came in at Rs 9,327.84 crore during the quarter, rising by 10.34% from Rs 8,453.41 crore a year ago in the same period. Also, the revenue surged by 7.65%, compared to Rs 8,665.13 crore of Q3FY18.

For FY18, the standalone PAT increased by 63.43% to Rs 12,163.69 crore in comparison of Rs 7,442.64 crore in the previous fiscal FY17. Revenue during FY18 stood at Rs 35,229.89 crore, up by 6.24%, as against Rs 33,159.60 crore in the previous fiscal.

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On consolidated basis, PAT stood at Rs 3,961.17 crore in Q4FY18 which was up by 28.63% from Rs 3,079.33 crore in Q4FY17, but down by 40.71% from Rs 6,681.54 crore in Q3FY18.

Consolidated total income was at Rs 21,248.79 crore, growing by 17.78% from Rs 18,040.59 crore, the same period a year ago.

On consolidated segment-wise revenue break up, loan business by 13.43% yoy to Rs 10,226 crore in Q4FY18, while life insurance business rose by 8.64% to Rs 9,794.81 crore, general insurance up by 4.52% to Rs 931.67 crore, and asset management business grew 16.94% to Rs 529.99 crore.

For entire FY18, consolidated PAT was at Rs 16,254.96 crore, up by 47.08% versus Rs 11,051.52 crore in FY17, whereas total income stood at Rs 69,141.67 crore, increasing by 13.18% as against Rs 61,087.63 crore in FY17.

In a meeting held on Monday, HDFC said, "The board has approved issuance of redeemable Non-convertible debentures up to Rs 85,000 crore on a private placement basis in terms of the provisions of section 42 and other applicable provisions of Companies Act 2013, subject to approval of the members at the ensuing AGM."

HDFC share price ended at Rs 1,884.65 per piece on the BSE, up by Rs 26.80 or 1.44%. Overall, the company’s stock rose by 2% on Monday.

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