DHFL Q2 Net rises 19.4% to Rs 86 cr

Housing finance firm Dewan Housing Finance Corporation (DHFL) today posted a 19.42% rise in net profit at Rs 85.85 crore for the second quarter ended September 30, 2012.

The net profit stood at Rs 71.89 crore in the same period of previous fiscal.

Total income rose 38.86% to Rs 817.87 crore in the July-September period compared to Rs 588.98 crore in the same period last fiscal.

"We have been growing at over 40% CAGR for over last 17 quarters consistently... This growth is largely because of our continuous focus on the affordable housing segment in tier-II and III markets," DHFL Chairman and Managing Director Kapil Wadhawan said.

According to the company, loan disbursement and sanctions stood at Rs 2,446.75 crore and Rs 3,270.27 crore, respectively during the September quarter.

For first half of FY13, net profit jumped 18.89% to Rs 163.68 crore compared to Rs 137.67 crore in the same period last fiscal.

Total income in the first half of the year grew 43.26% to Rs 1,556.77 crore and net interest margin stood at 2.84%.

On NPAs, DHFL said it did not have net NPAs by the end of September quarter but had a gross NPA of 0.69% compared to 0.97% in the same period last fiscal.