Gruh Finance gains 6% post Q4 results; 1:1 bonus issue

The stock rallied 6% to Rs 652 on the BSE in intra-day trade after the board recommended the issue of bonus shares in the ratio of 1:1 and dividend of Rs 3.3 per equity share

Gruh Finance has rallied 6% to Rs 652 on the BSE in intra-day trade after the board of directors recommended the issue of bonus shares in the ratio of 1:1 i.e. one equity share for every one equity share held on the record date.

The board also recommended dividend of Rs 3.30 per equity share of face value of Rs 2 each for the financial year ended March 31, 2018.

Gruh Finance, a subsidiary of Housing Development Finance Corporation (HDFC), has reported 18% year on year growth in net profit at Rs 1,305 million in January-March quarter (Q4FY18).

The company said its loan portfolio grew 18% to Rs 155.68 billion as at March 31, 2018 from Rs 132.44 billion in the previous year.

As at March 2018, gross non-performing assets (NPA) increased to 0.45% from 0.31% on a year on year basis. The Net NPA stands at NIL indicating a ratio of Net NPA to loans of NIL at the end of March 31, 2018, Gruh Finance said in a press release.

At 10:24 am; the stock was trading 4.5% higher at Rs 640 against 0.18% decline in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 1.26 million shares changed hands on the BSE and NSE so far.