Indiabulls Housing Finance Q1 net up 30% on loan growth

Indiabulls Housing Finance today reported a 30 per cent rise in net profit at Rs 1,054.7 crore in the June quarter, driven by healthy loan growth.

The company had reported a profit after tax of Rs 809.5 crore in the same period last year.

"We had a strong quarter. Our loan book grew by 33 per cent and net interest income rose by 22 per cent," said Ashwini Hooda, deputy managing director, Indiabulls Housing Finance.

Its loan book rose 33.4 per cent to Rs 1,25,962.9 crore in the reporting quarter, from Rs 94,450.7 crore in the same quarter last year, while total disbursal grew 47.7 per cent at Rs 10,044.2 crore.

Net interest income (NII) was up by 22.1 per cent to Rs 1,690 crore, from Rs 1,400 crore in the year-ago quarter.

Its gross NPA was at 0.78 per cent as against 0.80 per cent, while the net NPA stood at 0.59 per cent, compared with 0.34 per cent last year.

The company's balance sheet size stood at Rs 1,38,235.9 crore as on June 30, 2018, up 29.7 per cent from Rs 1,06,611.8 crore as on June 30, 2017.

It's capital adequacy stood at 24 per cent in the quarter ended June.

The company raised nearly Rs 13,000 crore from the debt market during the quarter and is looking to raise a similar amount in the second quarter, said Hooda.

Its scrip ended 1.22 per cent up at Rs 1,301.15 apiece on the BSE today, against 0.95 per cent decline in the benchmark.