DHFL posts net loss of Rs 6,640 crore; interest income declines 34%

DHFL is the first financial services firm undergoing bankruptcy proceedings after the Centre notified the law on Nov 15

Mortgage lender Dewan Housing Finance (DHFL) has reported a net loss of Rs 6,640.62 crore in the September quarter (Q2FY20), compared to a net profit of Rs 439.51 crore in the same period last financial year.

The interest income of the company declined more than 34 per cent to Rs 2,123.05 crore in Q2FY20 against Rs 3,244.90 in Q2FY19. Similarly, the total income of the housing finance company declined almost 26 per cent to Rs 2,581.16 crore in Q2FY20, compared to Rs 3,486.88 crore.

The consolidated revenue from operations of DHFL dropped to Rs 2,106.71 crore over Rs 3,483.32 crore in the