Dewan Housing Finance Q1 net up 7% at Rs 173 cr

Total income of the company also increased by 4.5% to Rs 1,653.19 crore in the first quarter of 2015-16

Dewan Housing Finance Corporation today reported 6.8 per cent rise in first quarter net profit at Rs 173.28 crore for the period ended June 30.

Dewan Housing Finance Corp (DHFL) had registered a net profit of Rs 162.28 crore in the corresponding quarter of the previous fiscal.

Total income of the company also increased by 4.5 per cent to Rs 1,653.19 crore in the first quarter of 2015-16, it said in a filing on BSE.

The company's total income stood at Rs 1,582.48 crore during the corresponding quarter of 2014-15.

In a separate filing, DHFL said its board has approved issue of bonus shares in 1:1 ratio.

"The Board after discussion, recommended the issue of bonus shares in the ratio of 1:1 (i.E. One bonus equity share of Rs 10 for every one fully paid up equity share of Rs 10 each)," it said.

The board also approved issuance of the postal ballot notice for the purpose of seeking approval of members of the company for issue of bonus shares, it said further.

DHFL shares were trading at Rs 485.15 apiece on BSE, up 2.58 per cent.