Mortgage firm Dewan Housing Finance Corporation (DHFL) Wednesday reported 52 per cent jump in net profit at Rs 439 crore for the quarter ended September 30, helped by healthy growth in loan disbursements.
The company had earned a profit of Rs 288 crore in the same quarter of the previous fiscal, DHFL said in a statement.
Shares of the company in the recent past have taken a huge beating on concerns of liquidity crisis. Following a series of default by group companies of IL&FS, liquidity tightness was apparent in the market putting pressure on interest rates.
Loan disbursements were Rs 13,870 crore for the quarter ended September 30, showing an increase of 39 per cent over the corresponding quarter of the previous year, it said.
Total Income was up by 32 per cent to Rs 3,468 crore during the quarter ended September as against Rs 2,632 crore in the corresponding quarter of the previous year.
It further said that the loan book outstanding rose to Rs 1,10,093 crore during the quarter, as against Rs 81,380 crore in the corresponding quarter a year ago, an increase of 35 per cent.
More From This Section
Gross non-performing asset of the company stood at 0.96 per cent.
The company further said that it has neither defaulted on any bonds or repayment of its financial obligations, nor has there been any instance of delay on any repayment of any liability.
It has repaid nearly Rs 14,000 crore of liability from September 24, 2018 till date, which includes CP repayment of over Rs 9,000 crore and it is extremely well-matched in case of the ALM position, the statement said.
Shares of the company closed at Rs 234.90 per unit, up 4.38 per cent on the stock exchanges.