DHFL back in the black, posts Rs 97-crore net profit in March quarter

While its committee of creditors as well as the RBI and the CCI, have given their approval to the resolution plan put forward by the Piramal Group, the plan is awaiting the NCLT

Mortgage lender Dewan Housing Finance Limited (DHFL) has reported a net profit of Rs 97 crore on a standalone basis in the quarter ending March of FY21 compared to a loss of Rs 7,634.89 crore in the year-ago period.

However, revenue from operations of the housing finance declined 14 percent to Rs 2,034.53 crore in Q4FY21 compared to Rs 2,387.58 crore in Q4FY20. 

For the full year, DHFL, which is reeling from insolvency, has reported a loss of Rs 15,051 crore, while total income for the year stood at Rs 8,802.79 crore. The company reported a negative net worth of Rs 20,637.05