Housing and Urban Development Corporation (Hudco) reported a 9.6 percent rise in net profit to Rs 7,000 crore against Rs 6,390 crore in the same period last year.
The company’s total quarterly revenue grew 18% at Rs 2,194 crore against Rs 1,862 crore.
The company’s board has recommended a final dividend of Rs 2.65 on face value of Rs 10 per share for financial year 2023-24.
“The final dividend is in addition to the interim dividend of Rs 1.50 per share already declared and paid,” the public sector bank said.
The company’s gross non-performing assets ratio improved to 2.71% at the end of March from 3.42% a year ago. Provision coverage ratio was a healthy 87%.The company’s shares fell after the figures were released, closing 3.35% down at Rs 258.50 on the BSE, while the Sensex index ended almost flat.
