The Hindu Business Line : Higher income buoys Dewan Housing net

Mumbai, Oct. 22 Dewan Housing Finance Ltd has reported a net profit of Rs 16.16 crore in the second quarter, 41 per cent up from Rs 11.43 crore in the previous year, buoyed by higher income.

Total income rose by 65.21 per cent to Rs 125.56 crore (Rs 76 crore).Loan disbursements were at Rs 428.20 crore, up 12 per cent compared to Rs 381.06 crore.Mr Prashant Chaturvedi, CFO, said the company saw a slight fall in the net interest margin during the second quarter to 2.94 per cent, from 3.11 per cent in the previous year.

“Despite higher interest rates, we had not passed on the increase to our borrowers,” he said.

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