Indiabulls Housing Finance reported a 24 per cent year-on-year increase in fourth quarter consolidated net profit on the back of robust home loan growth and deferred tax credit benefit.

The consolidated net, which incorporates the financial results of Indiabulls Housing Finance (as a standalone entity) and its subsidiaries and associates, stood at ₹841 crore (₹676 crore in the year-ago quarter).

The company’s board declared an interim dividend of ₹9 per equity share (of face value ₹2 per share) for FY17.

For the full financial year, consolidated net profit was up 24 per cent at ₹2,906 crore (₹2,345 crore in FY16).

In the reporting quarter, the company received a deferred tax credit of ₹45 crore.

As at March-end 2017, the company’s loan book increased 33 per cent year-on-year (y-o-y) to ₹91,300 crore (₹68,600 crore as at March-end 2016).