DHFL shares rally nearly 10% after company reports profit in Q4 earnings

Shares of Dewan Housing Finance Corporation (DHFL) on Monday jumped nearly 10 per cent after the company reported a consolidated net profit of Rs 96.75 cr for the quarter of fiscal ended in March 2021

Shares of Dewan Housing Finance Corporation (DHFL) on Monday jumped nearly 10 per cent after the company reported a consolidated net profit of Rs 96.75 crore for the last quarter of fiscal ended in March 2021.

The stock rallied 9.76 per cent to Rs 20.80 -- its highest trading permissible limit for the day -- on both BSE and NSE.

The company, which is under corporate insolvency process, had posted a net loss of Rs 7,507.01 crore in the January-March quarter of the year-ago fiscal. The company had reported a loss of Rs 13,095.38 crore in the December quarter of 2020-21.

For the full year 2020-21, the non-banking finance company posted a net loss of Rs 15,051.17 crore, which widened from Rs 13,455.81 crore in 2019-20, DHFL said in a regulatory filing on Sunday.

Total consolidated income during Q4FY21 fell to Rs 2,060.57 crore from Rs 2,160.98 crore in Q4FY20. For FY21, total income was down at Rs 8,802.78 crore as against Rs 9,578.85 crore in the preceding fiscal year.