Indiabulls Housing Finance's profit dips 44%

Indiabulls Housing Finance Ltd (IBHFL) on Wednesday reported a 44 per cent decline in its consolidated net profit to Rs 546.87 crore in the third quarter ended December 31, due to a fall in income. It had registered a net profit of Rs 972.82 crore in the corresponding October-December quarter of the previous fiscal. The company's total income in the December 2019 quarter fell to Rs 3,369.76 crore as against Rs 4,477.97 crore a year ago, it said in a regulatory filing. The firm's interest income was down at Rs 2,669.54 crore, compared with Rs 3,697.39 crore in the year-ago period. On a standalone basis, the net profit was down at Rs 377.23 crore from Rs 952.66 crore, while the income decreased to Rs 2,976.14 crore from Rs 4,045.69 crore, Indiabulls Housing said.