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.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

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