Financial Daily from THE HINDU group of publications
Sunday, Oct 23, 2005
Financial Daily from THE HINDU group of publications Sunday, Oct 23, 2005 |
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Corporate Results
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Housing Finance Money & Banking - Financial Performance Dewan Housing profit up 53 pc Our Bureau
MUMBAI: Dewan Housing Finance Ltd has recorded a 53.6 per cent increase in net profit for the second quarter ended September 30, 2005. Net profit for the quarter amounted to Rs 9.26 crore against Rs 6.03 crore recorded during the corresponding quarter of the previous year. Higher disbursements, maintenance of margins, and higher `other income' from treasury operations contributed to the increase in net profit, said Mr Kapil Wadhawan, Managing Director, DHFL. Disbursements growth was 60 per cent amounting to Rs 273.35 crore (Rs 170.33 crore). Total income rose 32.9 per cent to Rs 53.94 crore (Rs 40.58 crore). The spread for the quarter was 3.17 per cent. Gross profit before depreciation and taxation amounted to Rs 11.77 crore, up from Rs 7.89 crore, while profit before tax increased 47.55 per cent, to Rs 11.08 crore (Rs 7.51 crore). For the half year currently ended, the company's net profit, at Rs 17.14 crore, has shown a rise of 47.2 per cent. The company has announced an interim dividend of 10 per cent for 2005-2006.
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