Money & Banking

Indiabulls Housing Finance standalone profit up 44%

Our Bureau Mumbai | Updated on January 23, 2018

Indiabulls Housing Finance has reported a 44 per cent year-on-year (y-o-y) increase in third quarter standalone net profit at ₹1,084 crore against ₹753 crore in the year-ago quarter.

The housing finance company said its board of directors has declared an interim dividend of ₹14 per equity share (on the face value of ₹2 per share) for financial year 2017-18. The company’s consolidated net profit, including that of its subsidiaries and associates, in the reporting quarter rose 55 per cent to ₹1,168 crore (₹751 crore in the year-ago period).

Ashwini Kumar Hooda, Deputy Managing Director, said loan disbursements during the reporting quarter were strong at ₹12,280 crore against ₹9,100 crore in the year-ago period. As at December-end 2017, the overall loan portfolio rose 32 per cent to ₹1,07,330 crore.

Non-performing assets (NPAs) dropped to their lowest level in 21 quarters with gross NPA at 0.77 per cent (from 0.85 per cent as at December-end 2016).

Published on January 23, 2018

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