DHFL Q2 net up 18.51% to Rs 180.36 crore

Housing finance company Dewan Housing Finance Corporation (DHFL) today reported a 18.51 per cent jump in net profit at Rs 180.36 crore for the quarter ended September 30, helped by healthy growth in loan disbursements.
In the same quarter of the previous fiscal, the profit after tax stood at Rs 152.19 crore.
"The rise in profit in the quarter was mainly on account of increase in the lending portfolio," company's Chairman and Managing Director Kapil Wadhawan said.
Loan disbursements grew 17.75 per cent to Rs 5,014 crore while sanctions increased 25.18 per cent to Rs 7,668 crore.
Total loan book outstanding grew 25.86 per cent to Rs 56,312 crore as against Rs 44,742 crore in the year-ago period.

Total income was up 25.09 per cent to Rs 1,811.63 crore as against Rs 1,448.32 crore.

Net interest margin stood at 2.89 per cent as against 2.75 per cent in the same period last year.
Gross non-performing asset was 0.81 per cent as against 0.78 per cent and assets under management grew 27.31 per cent to Rs 63,000 crore from Rs 50,000 crore.
Wadhawan said that the company is in the process of raising USD 110 million (about Rs 715 crore) from external commercial borrowing route in the next couple of days.
"We have also received National Housing Board's approval to raise additional USD 300 million through ECB route and are now seeking RBI nod for the same. We will try to raise the amount in this fiscal only," he said.

The company has increased its fund raising from debt market instruments to 33 per cent in September-end compared to 24.5 per cent last year in the same period.
Shares of the company ended at Rs 236.80 per scrip, down 0.17 per cent on the BSE.