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Shares of Indiabulls Housing Finance Ltd fall as much as 2.6 per cent to Rs 730.
The fourth quarter’s profit dipped 6.9 per cent to Rs 1001 crore on Wednesday. Tax expenses for the period nearly tripled to Rs 426 crore. This is the mortgage lender's second straight fall in quarterly profit.
The company also approved the issue of secured and unsecured non covertible debentures (NCDs) up to Rs 25,000 crore and Rs 1000 crore, respectively.
The stock was down 12.3 per cent this year as of the last close.
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