Money & Banking

Q3 results: Indiabulls Housing Finance net profit falls to ₹985.51 cr

PTI New Delhi | Updated on January 31, 2019 Published on January 31, 2019

Indiabulls Housing, during the quarter that ended on December 31, 2017, sold approximately one-third of its stake in OakNorth Holdings for ₹767.78 crore   -  KSL

The company also declared an interim dividend of ₹10 per equity share

Indiabulls Housing Finance on Thursday reported a 13.72 per cent fall in consolidated net profit at ₹985.51 crore for the December 2018 quarter.

The company had posted a net profit of ₹1,142.32 crore in the corresponding quarter of the previous fiscal.

Total income grew 7.20 per cent to ₹4,480.21 crore during the quarter under review from ₹4,179.01 crore in the year-ago period, Indiabulls Housing Finance said in a Bombay Stock Exchange (BSE) filing.

Indiabulls Housing Finance said during the quarter that ended on December 31, 2017, the company had sold approximately one-third of its stake in OakNorth Holdings for ₹767.78 crore and recorded a one-time gain on sale of investments of ₹542.44 crore.

Gross non-performing asset (NPA) stood at 0.79 per cent of total advances in the quarter under review.

The board of directors of the company also authorised it to issue secured non-convertible debentures and unsecured non-convertible debentures, in the nature of subordinate debt up to ₹25,000 crore and ₹1,000 crore, respectively, on private placement basis in one or more tranches from time to time.

The company also declared an interim dividend of ₹10 per equity share for the financial year 2018-19.

Shares of Indiabulls Housing Finance were trading 0.19 per cent lower at ₹672.75 apiece on the BSE.

Published on January 31, 2019
This article is closed for comments.
Please Email the Editor