Financial results of GRUH Finance
The Board of Directors of GRUH Finance Ltd. (GRUH) – a subsidiary of HDFC Ltd. – has approved the annual audited accounts for the year ended March 31, 2018 at their meeting held in Mumbai on April 14, 2018. Profit after tax for the year amounted to Rs. 363 crores as compared to Rs. 297 crores for the previous year indicating a growth of 22%. The profit for the year has been arrived at after charging Rs. 37 crores (Previous Year Rs. 29 crores) towards of Deferred Tax Liability (DTL) on Special Reserve created during the year and Rs. 4.37 crores (Previous Year Rs. 3.36 crores) on Corporate Social Responsibility (CSR) Activities. The Board of Directors recommended payment of dividend for the year ended March 31, 2018 of Rs. 3.30 per equity share as against Rs. 2.80 per equity share in the previous year. Dividend payout ratio for the year inclusive of tax on dividend will be 40%.