DHFL net profit up 35% to Rs 4.35 billion, gross NPAs stand at 0.93%

Net Interest Margin has risen to 3.44% for Q1 FY2019, as against 3.05% in the comparable period of the previous financial year

Dewan Housing Finance Limited (DHFL) has posted a net profit of 35 per cent at Rs 4.35 billion at the end of the June quarter for financial year 2019, up from Rs 3.22 billion in the same period of the previous year. 

The loan book has grown by 33 per cent over the year --- from Rs 762.2 billion in Q1 of FY2018 to Rs 1009.8 billion in Q1 of FY2019. Loan disbursements have increased by 65 per cent over the corresponding quarter of the previous year to Rs 135.82 billion at the end of Q1 FY2019. 

Kapil Wadhawan, Chairman and Managing Director of DHFL, said, “With the dynamic momentum of the government’s initiatives and regulatory reforms in the affordable housing space, FY 2018-19 has begun on a promising trajectory for the industry. We are actively progressing with several growth-oriented initiatives aimed at stimulating an equitable society with enhanced financial access.”

Net Interest Margin has risen to 3.44 per cent for Q1 FY2019, as against 3.05 per cent in the comparable period of the previous financial year.

Asset Under Management (AUM) grew by 33 per cent, year on year, to Rs 1209.4 billion for the quarter ended 30 June 2018.

Gross Non-Performing Assets stood at 0.93 per cent at the end of Q1 FY2019, down sequentially from 0.96 per cent at the end of Q4 FY2018.

DHFL's stocks closed at Rs 623.25 on the Bombay Stock Exchange, up by 1.97 per cent from its previous closing price on 10 August (Friday).