Indiabulls Housing Finance Q3 net rises 55% to Rs. 1,167 crore

Indiabulls Housing Finance on Tuesday reported a 55.38% rise in consolidated net profit to Rs. 1,167.73 crore for the third quarter ended 31 December. The company had reported net profit of Rs. 751.49 crore in the corresponding quarter of the previous fiscal. Its revenues grew by 36.65% to Rs. 4,105.66 crore during October-December quarter of the current fiscal, up from Rs. 3,004.47 crore in the year-ago period, Indiabulls Housing Finance said in a BSE filing. Gross non-performing assets (NPA) stood at 0.77% of total advances, and net NPAs were at 0.21% in the quarter under review. The board of directors of the company also authorised it to issue secured non-convertible debentures and unsecured non-convertible debentures, in the nature of subordinate debt up to Rs. 25,000 crore and Rs. 3,000 crore, respectively, on private placement basis in one or more tranches from time to time. The company also declared an interim dividend of Rs. 14 per equity share for the financial year 2017-18.