Indiabulls Housing slumps after weak Q1 result

Indiabulls Housing Finance dropped 7.26% to Rs 476.80 at 9:32 IST on the BSE after consolidated net profit dropped 24.01% to Rs 801.53 crore on 4.55% fall in total income to Rs 3886.12 crore in Q1 June 2019 over Q1 June 2018.

The result was announced after market hours yesterday, 6 August 2019.

Meanwhile, the S&P BSE Sensex was down by 63.65 points or 0.17% at 36,913.57.

On the BSE, 2.74 lakh shares were traded in the counter so far compared with average daily volumes of 11.04 lakh shares in the past two weeks. The stock had hit an intraday high of Rs 505.5 and an intraday low of Rs 470.45 so far during the day. The stock hit a 52-week high of Rs 1,381 on 7 August 2018. The stock hit a 52-week low of Rs 458 on 5 August 2019.

Indiabulls Housing Finance's gross NPAs stood at 1.47% and net NPAs stood at 1.1% of total advances in Q1 June 2019.

The company's board has also authorised to issue Secured Non-Convertible Debentures and Unsecured, Redeemable, Non-Convertible Subordinate Debt in the nature of Debentures (NCDs) upto Rs 25000 crore and Rs 1000 crore respectively, on private placement basis, in one or more tranches, from time to time.

The company has declared an interim dividend of Rs 8 per equity share for the financial year 2019-20. The record date for the interim dividend is 20 August 2019.

Indiabulls Housing Finance is engaged in the business of providing finance to persons, body of individuals, companies and institutions. The company provides home loans and loans against property.

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