Indiabulls Housing Finance reported 65% decline in loan disbursement in the October-December quarter at ₹3,854 crore, compared with ₹11,034 crore reported in the July-September period.
Some of the NBFCs faced liquidity issues after the IL&FS crisis broke out, as they saw their cost of funds rising, prompting them to go slow on disbursal.
On year-on-year basis its loan assets reported a growth of 16.2%.
The company reported 9% on-year growth in net profit to ₹985.5 crore. Net profit for Q3 FY18 has been adjusted for profit from sale of stake in OakNorth Bank to GIC of Singapore, in November 2017.
“Also, in Q3FY19 there is a one-time tax incidence of ₹217 crore. on account of redemption of long-term units of debt mutual funds.”
Gross NPA ratio increased marginally to 0.79% from 0.77% a year ago.
“We are on track to deliver 15%-16% PAT growth the current financial year. For the next financial year FY2019-20, PAT will grow at between 17% and 19%,” said Gagan Banga, vice-chairman and MD, Indiabulls.
“While total assets under management are expected to grow 20%-25%, balance sheet growth is expected to be around 10%. This strategy will permit the company to maintain conservative leverage but at the same time allow it to deliver healthy ROEs,” Mr. Banga added.