HDFC FY08 consolidated net up 56%

HDFC today reported a 56% increase in consolidated net profit at Rs 2,712.19 crore for the year ended March 31, 2008 when compared with Rs 1,741.98 crore for the year ended March 31, 2007.According to a release issued to the BSE today, total income increased to Rs 8,890.22 crore from Rs 6,393.92 crore for the year ended March 31, 2007 .The company, on a stand-alone basis, posted a net profit after tax of Rs 768.12 crore for the quarter ended March 31, 2008 when compared with Rs 550.05 crore for the quarter ended March 31, 2007. Total income increased to Rs 2,320.21 crore from Rs 1,733.77 crore for the quarter ended March 31, 2007.UTVi had estimated HDFC to report a net profit of Rs 619 crore and total income of Rs 2,284 crore for the quarter ended March 31, 2008. The board has recommended a dividend of Rs 25 per share of Rs 10 each for the financial year 2007-08 (Rs 22 per equity share in the previous year).The board has appointed Dr. Bimal Jalan as an additional director effective April 30, 2008.