 "Dewan Housing Finance rallies on strong Q2 results")
Dewan Housing Finance has rallied 9% to Rs 361 on National Stock Exchange (NSE) after reporting 17.8% year-on-year (yoy) growth in net profit at Rs 152 crore for the quarter ended September 2014, on back of strong operational income. The housing finance company had profit at Rs 129 crore in the same quarter last fiscal.
Operational revenues grew 26.8% to Rs 1,450 crore in September quarter against Rs 1,143 crore in the corresponding quarter of previous year.
EBITDA or operating profit increased by 35% yoy to Rs 237 crore, while margins improved by around 100 basis points to 16.3% in September quarter.
Meanwhile, the board of directors of the company has declared an interim dividend for the financial year 2014-205 of Rs 4 per share is 40% on equity shares of Rs 10/- each fully paid-up.
The stock opened at Rs 344 and touched high of Rs 365 on NSE. A combined 1.36 million shares changed hands on the counter so far on NSE and BSE.
Operational revenues grew 26.8% to Rs 1,450 crore in September quarter against Rs 1,143 crore in the corresponding quarter of previous year.
EBITDA or operating profit increased by 35% yoy to Rs 237 crore, while margins improved by around 100 basis points to 16.3% in September quarter.
Meanwhile, the board of directors of the company has declared an interim dividend for the financial year 2014-205 of Rs 4 per share is 40% on equity shares of Rs 10/- each fully paid-up.
The stock opened at Rs 344 and touched high of Rs 365 on NSE. A combined 1.36 million shares changed hands on the counter so far on NSE and BSE.
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