DHFL zooms 20% on strong Q4 show

DALAL STREET SPIKES

Dewan Housing Finance (DHFL) shares jumped 20 per cent to Rs 86.90 on the back of strong Q4 March 2006 results. 20.68 lakh shares were traded on BSE.

The company's Q4 March 2006 net profit jumped 58 per cent to Rs 15.24 crore (Rs 9.64 crore). Total income rose 45.4 per cent to Rs 71.87 crore (Rs 49.42 crore).

For full year FY 2006, the net profit rose 53.9 per cent to Rs 41.71 crore (Rs 27.10 crore). Total income rose 41.5 per cent to Rs 231.79 crore (Rs 163.82 crore).

The company's loan sanctions jumped 70 per cent in FY 2006 to Rs 1,257.02 crore. Disbursement rose 76 per cent to Rs 1,110.30 crore during the same period.

The company provides housing loans to individuals, and personal loans to its existing housing loan customers. It focuses on semi-urban, rural areas and the lower-income group of borrowers.

The scrip had risen 2.8 per cent on 15 May to Rs 76.95 after it had announced Q4 numbers. The stock had eased to Rs 72.45 on 16 May.