Money & Banking

DHFL posts net loss of Rs 2,122.65 crore in Q2

Our Bureau Mumbai | Updated on November 26, 2020 Published on November 26, 2020

Outstanding amount details reported to stock exchanges and NHB, informs company

Dewan Housing Finance Corporation Ltd (DHFL) reported a consolidated net loss of Rs 2,122.65 crore in the second quarter of the fiscal as against a net loss of Rs 6,640.62 crore in the same period a year ago.

Significantly it had posted a net profit of Rs 70.1 crore in the first quarter of the fiscal.

For the quarter ended September 30, 2020, DHFL reported a total income of Rs 2,205.90 crore compared to Rs 2,581.16 crore in the same period last fiscal.

Its revenue from operations increased by 4.65 per cent to Rs 2,204.81 crore in the second quarter of this fiscal versus Rs 2,106.71 crore in the corresponding period last fiscal.

“The company also reported transaction details to Stock Exchanges and NHB through communications dated September 2, 2020, September 28, 2020 and October 6, 2020 for an outstanding sum of Rs 14,04,550 lakh, Rs 12,70,553 lakh and Rs 1,86,484 lakh respectively. The company has made provisions as per NHB guidelines on ‘Provisioning Pertaining to Fraud Accounts’,” DHFL Administrator R Subramaniakumar said in the results.

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Published on November 26, 2020
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