Q1 Results: Indiabulls Housing Finance’s Profit Meets Estimates


Indiabulls Housing Finance Ltd.’s profit for the quarter ended June rose in line with analyst estimates on healthy loan growth.

Net profit during the quarter rose 30.3 percent year-on-year to Rs 1,054.7 crore, the Mumbai-based housing finance company said in an exchange filing. That compares with Rs 1,009 crore estimated by analysts polled by Bloomberg. The company’s loan book grew 33.4 percent from the year-ago period to Rs 1.25 lakh crore.

Net interest income, or the core income from operations, rose 22.1 percent from the last year to Rs 1,690 crore in the April-June period.

The company’s asset quality remained steady with the gross non-performing asset at 0.78 percent. Net non performing assets rose slightly to 0.59 percent from 0.34 percent in the previous quarter.

The board also declared an interim dividend of Rs 10 per equity share.



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