Housing Development Finance Corporation Ltd (HDFC) reported a 27 per cent increase in fourth quarter standalone net profit at Rs 2,862 crore against Rs 2,257 crore in the year ago period.

The board of India's largest standalone housing finance company recommended final dividend of Rs 17.50 per equity share.

Total income, including interest income, dividend income and profit on sale of investments, in the reporting quarter is up 24 per cent year-on-year (yoy) at Rs 11,587 crore.

Total expenses, including finance cost, provision for impairment on financial instruments, employee benefit expenses, rose 17.5 per cent y-o-y to Rs 7896 crore.

HDFC reported a loan growth of 12 per cent y-o-y at Rs 4,00,760 crore as at March-end 2019.

The housing finance company's net profit for the full year was down 12 per cent at Rs 9,632 crore.