Dewan Housing Finance Corp profit up 26% to Rs 3.12 bn in Jan-March

Dewan Housing Finance Corporation’s (DHFL) has posted 26 per cent rise in net profit for the fourth quarter ended March 2018 at Rs 3.12 billion, from Rs 2.48 billion in January-March 2017.  During the fourth quarter of 2016-17, it had received an exceptional profit of Rs 19.6 billion on sale of investments. Harshil Mehta, joint MD and CEO at DHFL, said, “the rise in profitability and disbursements has come from the fact that we have been very active in the retail home loan space, which, is in turn, is driven by the affordable housing portfolio in Tier-II and Tier-III markets.”

"We see our disbursements growing at a healthy pace of 20 to 25 per cent", they further added. On a Quarter-on-Quarter (QoQ) basis, the housing finance company's net profit rose to Rs 3.12 billion during the fourth quarter of FY18, from Rs 2.48 billion (adjusted) net profit in the corresponding quarter of the previous year.

Total revenue increased by 18.2 per cent from Rs 88.6 billion at the end of FY2017 to Rs 104.6 billion at the end of FY2018, while the company faced higher financing costs at Rs 75.6 billion in FY2018 as compared to Rs 66.5 billion in FY2017.