ADD ANI AS A TRUSTED SOURCE
googleads
Menu
Business

Indiabulls Housing Finance Q2 profit dips 32 pc to Rs 702 crore

Mumbai (Maharashtra) [India], Nov 7 (ANI): Indiabulls Housing Finance's consolidated net profit dipped by 32 per cent to Rs 702 crore in the July to September quarter from Rs 1,035 crore in the corresponding quarter of previous financial year.

ANI Nov 07, 2019 11:09 IST googleads

The company is third largest housing finance company in India

Mumbai (Maharashtra) [India], Nov 7 (ANI): Indiabulls Housing Finance's consolidated net profit dipped by 32 per cent to Rs 702 crore in the July to September quarter from Rs 1,035 crore in the corresponding quarter of previous financial year.
Its total income also came down to Rs 3,420 crore from Rs 4,255 crore in the year-ago period. However, the board of directors declared an interim dividend of Rs 7 per share of face value Rs 2 amounting to 350 per cent.
The company said its gross non-performing assets (NPAs) stood at Rs 1,611 crore at the end of Q2 FY20 from Rs 1,662 crore at the end of Q1 FY20. Net NPAs were down 1.07 per cent at Rs 1,139 crore from Rs 1,246 crore. Total provisions of Rs 1,494 crore covers gross NPAs of Rs 1,611 crore by 92.8 per cent.
Indiabulls Housing Finance is the third largest housing finance company in India with a pan-India network of over 200 branches in 21 states. With a balance sheet of Rs 1.12 lakh crore, it has outstanding loans of Rs 1.06 lakh crore.
However, the Indiabulls Group is in trouble as it seeks to exit the real estate business and focus on financial services. The Delhi High Court is hearing a public interest litigation (PIL) alleging fund diversion and accounting irregularities by its promoters.
And the Reserve Bank of India (RBI) has rejected the home financier's proposed merger with private sector lender Lakshmi Vilas Bank.
At 11 am, the stock of Indiabulls Housing Finance was trading 10.15 per cent higher at Rs 241.50 on BSE Ltd. (ANI)

Get the App

What to Read Next

Business

Kody Technolab Ltd. Launches Medigo Robot

Kody Technolab Ltd. Launches Medigo Robot

Ahmedabad (Gujarat) [India], March 12: Kody Technolab Limited today announced the launch of Medigo Robot, a health screening robot developed to enable rapid preventive health assessments and expand access to routine screening across healthcare, public, and institutional environments.

Read More
Business

NSE concludes process for selection of intermediaries for IPO

NSE concludes process for selection of intermediaries for IPO

National Stock Exchange of India Limited on Thursday concluded the process for the selection of merchant bankers, law firms and other intermediaries for its proposed Initial Public Offering (IPO).

Read More
Business

World Kidney Day: Understanding Kidney Health Before

World Kidney Day: Understanding Kidney Health Before

New Delhi [India], March 12: On the occasion of World Kidney Day, leading kidney experts from across India come together to highlight the growing importance of kidney health and early awareness. As kidney diseases often progress silently without noticeable symptoms in the early stages, timely screening and preventive care are essential. Through their insights, these specialists emphasize the need for healthier lifestyles, regular health monitoring, and greater public awareness to help people protect their kidneys before serious complications arise.

Read More
Business

Faculty of Planning at CEPT University Invites Applications

Faculty of Planning at CEPT University Invites Applications

New Delhi [India], March 12: India is undergoing an intense phase of urban transformation, placing immense pressure on essential infrastructure, mobility, and public spaces across its cities. The scale and speed of this change demand urgent, informed, and future-ready responses that balance growth with environmental responsibility and social equity.

Read More
Business

Authenticity, Adaptability, and the Future of Brand Communication

Authenticity, Adaptability, and the Future of Brand Communication

New Delhi [India], March 12: The essence of communication in an industry that is constantly evolving is surprisingly timeless. Whether it is about building a brand, creating trust, or navigating disruption, clarity of thought and authenticity of action remain fundamental. With rapid shifts in technology, evolving consumer expectations, and changing regulatory environments, today's business leaders are no longer just marketers or communicators. They are storytellers, strategists, and guardians of credibility. The true measure of sustainable brand growth lies in the ability to remain creative yet accountable, while imagining ideas that create meaningful impact.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.