Housing & Urban Development Corporation (HUDCO)'s consolidated net profit jumped 19.4% to Rs 526.28 crore on 6.4% fall in total income to Rs 1,777.85 crore in Q4 March 2021 over Q4 March 2020.
Profit before tax surged 40.1% to Rs 763.83 crore in Q4 FY21 as against Rs 545.30 crore in Q4 FY20. The Q4 earnings were announced after trading hours yesterday, 29 June 2021.Sanctions fell 57.52% to Rs 5,288.48 crore in Q4 FY21 as against Rs 12,449.86 crore in Q4 FY20. Disbursements dropped 14.67% to Rs 3,505.81 crore in Q4 March 2021 as compared to Rs 4,108.63 crore in Q4 March 2020. Outstanding Loans slipped 1.01% to Rs 75,786.59 crore in Q4 FY21 from Rs 76,565.44 crore in Q4 FY20.
Gross NPA stood at 4.03% in March 2021 over 3.82% in March 2020. Net NPA stood at 0.50% in March 2021 from 0.19% in March 2020. Total Expected Credit Loss (ECL) skid 6.32% to Rs 2,753.78 crore in March 2021 as against Rs 2,939.67 crore in March 2020.
Meanwhile, the board has recommended a final dividend of Rs 1.425 per equity share for the financial year 2020-21.
The company's board has also approved the matter relating to raising of funds through issue of bonds/ debentures, as may be permitted by the regulatory authorities from time to time during the financial year 2021-22 upto a maximum of Rs 15,000 crore.
During the financial year, HUDCO's consolidated net profit declined 7.59% to Rs 1,578.50 crore on 3.88% decrease in total income to Rs 7,277.73 crore in FY 2021 over FY 2020.
HUDCO, the premier techno-financing public sector enterprise, is in the field of housing and infrastructure development in India. The Government of India held 89.81% stake in HUDCO as on 31 March 2021.
Shares of HUDCO skid 3.35% to Rs 53.35 on BSE. The scrip hovered in the range of Rs 53.30 to Rs 56.20 so far.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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