DHFL Q4 profit rises 26% to Rs 312 crore

DHFL today reported a rise of 26 per cent in its net profit at Rs 312.4 crore for the quarter ended March 2018.

The company's net profit in the corresponding January-March quarter of the previous fiscal stood at Rs 248.2 crore.

Total income was up by 18 per cent to Rs 2,808.2 crore during the quarter as against Rs 2,377.7 crore in the corresponding three months of the previous year, a company statement said.

Its gross non-performing assets (NPAs) stood at 0.96 per cent of gross advances at the end of March 2018. Net interest margin stood at 3.03 per cent for the quarter.

For full year 2017-18, the net profit of the company increased by 26 per cent to Rs 1,172.1 crore as against Rs 927.0 crore in 2016-17, DHFL said.

Total income was up 18 per cent at Rs 10,464.5 crore for the year ended March 31, 2018 as against Rs 8,857.2 crore in FY17. Net interest margin stood at 3.04 per cent.

The board of directors of the company recommended a final dividend of Rs 2.50 per equity share.

Total dividend (including interim dividend) is Rs 5.50 per equity share for 2017-18, it said.

"DHFL has registered robust business growth in the fourth quarter as we continue to take several proactive steps towards the fulfilment of DHFL's mission to enable home ownership...FY 2017-18 has been encouraging for the housing finance sector which witnessed several growth oriented initiatives and industry defining policy measures undertaken by the government," said Kapil Wadhawan, chairman and managing director, DHFL.

Shares of DHFL settled 0.99 per cent higher at Rs 640.60 apiece on the BSE.