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Dewan Housing Finance Corporation reported a 16 per cent increase in net profit at ₹201 crore in the first quarter ended June 30, 2016, as against ₹173 crore in the year-ago period.
Total income was up 18.52 per cent to ₹1,958.3 crore during the quarter (₹1,652.2 crore in the corresponding quarter of the previous year).
Loan disbursements were up 25.54 per cent year-on-year at ₹6,214.8 crore in the reporting quarter.
Kapil Wadhawan, Chairman and Managing Director, DHFL, attributed the profitability to the company’s continued focus on giving housing loans to the low- and middle-income segments in Tier-II and Tier-III cities.
Loan book outstanding grew 18.32 per cent to ₹63,646.6 crore (₹53,795.7 crore in the year-ago quarter).
Net interest margin was a shade lower at 2.91 per cent (2.96 per cent).
The company’s board has approved the issuance of non-convertible secured/unsecured debentures up to an amount of ₹5,000 crore; non-convertible subordinated unsecured debentures up to ₹1,000 crore; and non-convertible perpetual unsecured debentures up to ₹500 crore.
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