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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.
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