Indiabulls Housing Finance Q4 Results: Profit rises 23% YoY to Rs 320 crore

Indiabulls Housing Finance has reported 23% higher consolidated net profit at Rs 320 crore for the March quarter compared with 261 crore in the year-ago period even as its assets under management shrunk 2.5% year-on-year to Rs 65,335 crore at the end of March.

The mortgage lender's operating profit also surged 34% at Rs 722 crore, backed by a 31% rise in net interest income at Rs 964 crore.

The board of the company proposed a final dividend of Rs 2 per fully paid up equity share, translating to 100% on face value of Rs 2 each, for the financial year 2023-24.

Its asset quality improved a bit with non-performing assets ratio falling to 2.69% at the end of March as compared with 2.86% seen a year back. Net NPA ratio stood at 1.52% against 1.9%

The lender said that its AUM and loan book have resumed growth supported by retail disbursals.