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Indiabulls Housing Finance Ltd has posted a 22 per cent increase in its fourth quarter consolidated net profit helped by higher other income and lower tax expenses.
During January-March, the housing finance company posted a net profit of Rs 451 crore against Rs 371 crore, a year ago.
Income from operations increased seven per cent to Rs 1,244 crore. Other income more than doubled during the quarter to Rs 246 crore.
The company has declared a dividend of Rs 9 per share on face value of share of Rs 2 each and said that it will pay the same on May 7.
Full-year net profit
For the full financial year ended March 31, 2014, the company has posted a net profit of Rs 1,569 crore, a growth of 24 per cent over the year-ago period.
The company’s loan book grew to Rs 41,169 crore as of March 31, 2014 from Rs 34,425 crore, a year earlier.
Shares of the Mumbai-based financier closed 3.22 per cent down at Rs 276.50 on the Bombay Stock Exchange.
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