HDFC Bank has announced a net profit of Rs. 3,990 crore in Q4, up 18.2% YoY compared to the same period last year. For the financial year, the bank recorded a net profit of Rs. 14,540 crore, up 18% over the previous year. The bank's profitability jumped close to 90% in Q4 despite additional provisions and contingencies under new rules.
The Board of Directors recommended a dividend of Rs. 11 per equity share out of the net profits for the year. HDFC Bank's share price has hit a new 52 week high today post results.
Hindustan Zinc saw its Q4 revenue jump to Rs 6,699 crore, close to double revenue from the same period last year. Strong zinc, lead and silver prices, as well as higher production numbers helped the company log this growth despite its rising fuel costs. The net profit at Rs 3,057 crore was better than analyst estimates of Rs 2,851 crore, and operating earnings grew 190% over the year. Zinc prices however have seen a recent correction, falling in the last thirty days.
Software services company MindTree said its net profit had declined 26.8% to Rs. 97.2 crore for Q4, compared to net profits of Rs. 132.7 crore in the same period the previous year. The board of directors recommended a final dividend of 30%, or Rs 3 per equity share, for the financial year.
Engineering services firm Cyient( previously Infotech Enterprises), reported a net profit decline of 16.7% in Q4 to Rs. 78.4 crore. It saw a revenue of Rs. 941 crore in the fourth quarter, a growth of 2.6% compared to the same period the previous year. The company is struggling with a high attrition rate, which was at 20.5% in the fourth quarter.
