Comments
Our Bureau
Indiabulls Housing Finance reported a 16 per cent increase in standalone net profit at ₹933 crore in the second quarter ended September 30, 2018, against ₹804 crore in the year-ago period.
Consolidated net profit was up 21 per cent year-on-year (y-o-y) at ₹1,044 crore.
Interim dividend
The board of directors of the company declared an interim dividend of ₹10 per equity share (face value ₹2 per share) for financial year 2018-19.
Total loan disbursal in the reporting quarter increased 16 per cent year-on-year at ₹11,034 crore (₹9,504 crore in the year-ago quarter).
IL&FS crisis
In the backdrop of the ripple effect of the IL&FS crisis on the financial system, the housing finance company, in a statement, said it closed September 2018 with cash and liquid investments of ₹21,250 crore.
Gagan Banga, Vice-Chairman and Managing Director, IBHFL, said: “It has been a long-standing operating principle of Indiabulls Housing to maintain adequate liquidity to suffice six months of debt repayments.
“We have also moved to a liquidity framework and standards guided by Basel III and in line with liquidity ratios prescribed for banks. We have a four times cover of high-quality liquid assets to 30-day net outflows, and have a 135 per cent cover on six months’ liabilities outflows.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.