DHFL Q3 net up 54% to Rs 62 cr

Dewan Housing Finance Corporation (DHFL) today reported a 53.75 per cent rise in net profit at Rs 61.76 crore for the third quarter of the current fiscal on higher loan disbursements.

DHFL had reported Rs 40.17 crore net profit in the corresponding quarter last fiscal, it said in a statement.

"DHFL has recorded a robust business growth for the third quarter, including a healthy loan portfolio and net profit growth. Over the last seven years, DHFL has been consistently growing at 33 per cent CAGR, in terms of loan disbursements," DHFL Chairman and Managing Director Kapil Wadhawan said.

DHFL has disbursed Rs 1,527.91 crore loan during the quarter ended December 2010, up by 53.15 per cent year-on-year.

The company has sanctioned Rs 2,214.22 crore loan during the quarter recording over 67 per cent growth from Rs 1,325.32 crore in the corresponding quarter last fiscal.

DHFL said its Net Interest Income (NII) for the reporting quarter stood at Rs 86.37 crore, up by 55.06 per cent over the same period last fiscal.

The net Non-performing Assets (NPA) of the company, as of December 2010, stood at 0.39 per cent.

During the nine-month period, DHFL's net profit was up by 89.53 per cent to Rs 206.47 crore from Rs 108.94 crore in the April-December period of the last fiscal.