Dewan Housing reports Rs 141 cr profit in Q4

Our Bureau Mumbai | Updated on April 30, 2014 Published on April 30, 2014

Board recommends Rs 5 dividend

Dewan Housing Finance Ltd (DHFL) posted a net profit of Rs 141 crore in the January to March period.

The housing finance company had posted a net profit of Rs 197 crore in the same quarter, a year ago. However, the figures of the two quarters are not strictly comparable as the previous quarter figures included the performance of the then recently merged -- First Blue Home Finance Ltd.

A company spokesperson said in a statement, “It is not comparable with the corresponding quarter of the previous financial year due to the merger of First Blue Home Finance Ltd, which happened during the last quarter of financial year 2013. Thus, the last quarter of FY13 includes the full year profit of First Blue Home Finance Ltd and hence is not comparable.”

For the full year, the Mumbai-based company posted a net profit of Rs 529 crore against Rs 452 crore, a year ago.

The company disbursed loans worth Rs 16,647 crore during the year, a growth of 25 per cent over the previous year.

The board recommended a dividend of Rs 5 (including a special dividend), taking the total dividend in the year to Rs 8 per share.

Shares of the company ended down 8 per cent at  Rs 226.50 on the Bombay Stock Exchange.

Published on April 30, 2014
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