Indiabulls Housing Finance jumps on strong Q1 numbers

Indiabulls Housing Finance zoomed 6% after company's consolidated net profit jumped 21% at Rs 424 crore

Indiabulls Housing Finance zoomed 6% to Rs 390 on the BSE after the company’s consolidated net profit jumped 21% at Rs 424 crore on 19% growth in total revenue to Rs 1603 crore in Q1 June 2014 over the same period last year.

 

The company's consolidated net interest income (NII) rose 17% to Rs 701 crore in Q1 June 2014 over the same quarter last year.

 

Meanwhile, the gross non-performing assets (NPA) ratio stood at 0.8% as on 30 June 2014 as against 0.7% as on 30 June 2013. 

 

The company had cash, cash equivalents and investments in liquid debt instruments of Rs 7392 crore as at 30 June 2014.

 

Furthermore, total loan assets as on 30 June 2014 stood at Rs 42014 crore as against Rs 36874 crore as on 30 June 2013.

Indiabulls Housing Finance's board of directors at its meeting held on Thursday, 24 July 2014, declared an interim dividend of Rs 8 per share for the year ending 31 March 2015.

 

Indiabulls Housing Finance is a housing finance company. The company provides other loans, such as loan against residential properties for home improvement. In addition, it provides loan to small businesses, commercial vehicle loans and corporate for various housing projects.

 

Shares of Indiabulls Housing Finance opened at Rs 373, touched a high of Rs 410 and a low of Rs 373 on the BSE. A total of 278,908 shares have been exchaged on the BSE so far.