HDFC has reported a 19 per cent increase in net profit at Rs 690.29 crore (Rs 6.9 billion) for the year ended March 31, 2003 when compared with Rs 580.01 crore (Rs 5.8 billion) in FY02.

Total income increased 10 per cent to Rs 2,975.62 crore (Rs 29.75 billion) from Rs 2,700.15 crore (Rs 27.00 billion) in the previous fiscal, according to a release issued to the BSE on Wednesday.

The board has recommended a dividend of Rs 11 per share, the release added.