The board has declared an interim dividend of Rs 10 per equity share for financial year 2018-19
Mortgage lender Indiabulls Housing Finance posted a 22.6 percent year-on-year (YoY) rise in consolidated net profit for the fourth quarter ended March 31 on the back of strong growth in revenues.
The profit after tax (PAT) stood at Rs 1,030.37 crore for Q4 of FY18, as compared to Rs 840.54 crore posted in the same quarter a year ago.
The gross non-performing assets (NPA) and net NPA for Q4 stood at 0.77 percent and 0.34 percent, respectively. In Q4FY17, gross NPA stood at 0.85 percent, while net NPA was 0.36 percent.
The bad loan provisions stood at Rs 917.19 crore for FY18 as compared to Rs 580.54 crore in FY17. For the financial year 2017-18, a Reuters poll had estimated the loan loss provisions to be Rs 939.6 crore.
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The consolidated revenue from operations saw a 20.6 percent growth in the fourth quarter of FY18 and stood at Rs 3,689.72 crore compared to a year ago. The Reuters poll had estimated the Q4 net income at Rs 1,102.2 crore.
The company's board declared an interim dividend of Rs 10 per equity share (at face value of Rs 2 per share) for financial year 2018-19.
The board has also approved issuance of secured Non-Convertible Debentures(NCDs) and unsecured, Redeemable, Non-Convertible Subordinate Debt (NCDs) upto Rs 25,000 crore and Rs 1,000 crore, respectively. This will be on a private placement basis, in one or more tranches, from time to time.