HUDCO reports net profit of Rs. 1708.42 crore for FY 2019-20

Sarkaritel
By Sarkaritel June 27, 2020 17:28


Shri M. Nagaraj, CMD, HUDCO, shared the highlights of HUDCO’s robust performance in 2019-2020, wherein the company has recorded Outstanding financial results in its Golden Jubilee Year witnessing a 45% growth in Net Profit that has touched an all-time high of Rs 1708.42crore in 2019-2020, from Rs 1180.15 crore in 2018-2019. HUDCO has seen a 13% growth in its net worth that has reached Rs 12343.49 crore in 2019-20, from Rs 10955.77 crore in 2018-2019. The net total income also witnessed a quantum jump of 35% to Rs 7571.64 crore in 2019-2020, from Rs 5591.22 crore in 2018-2019.

Further, Shri D. Guhan, Director (Finance), has shared that HUDCO Board has also approved an all-time high dividend of Rs 3.10 per share subject to approval by the shareholders. The above includes interim dividend of Rs 0.75 per share paid in March, 2020. The total dividend recommended by the Company is Rs 620.59 croreas against Rs 165.16 crore in the previous year. 

Further, HUDCO’s Net NPA is 0.19%, which is among the lowest in the sector.During the year 2019-2020, HUDCO’s emphasis was on sanction of projects pertaining to Housing-PMAY(U), Expressways and Water Supply projects.

Sarkaritel
By Sarkaritel June 27, 2020 17:28