DHFL's pre-tax loss narrows sequentially to Rs 167.80 crore in Q3

The company reported a net profit of Rs 934.35 crore in Q3FY20 due to tax adjustments; no provision for interest on borrowings post insolvency proceedings

Troubled mortgage lender Dewan Housing Finance (DHFL), which is under insolvency proceedings, has reported a pre-tax loss of Rs 167.80 crore in the third quarter (Q3) of 2019-20 (FY20), compared to a pre-tax profit of Rs 471.5 crore in the year-ago period. In the September quarter, the company had reported a pre-tax loss of Rs 7,584.43 crore.

However, the company has reported a net profit of Rs 934.35 crore in the quarter ended December 2019 (Q3FY20), compared to a net profit of Rs 313.6 crore in the year-ago period on account of a tax adjustment to the tune of