Indiabulls Housing falls 9% on weak Q1 results, worsened asset quality

The NBFC's gross non-performing asset ratio rose to 1.47 percent from 0.88 per cent and the net NPA ratio increased to 1.1 per cent from 0.69 per cent in March quarter.

Shares of Indiabulls Housing Finance slipped 9 per cent to Rs 470 in early morning deal on the BSE on Wednesday after the company reported weak earnings and worsened asset quality during April-June quarter of fiscal 2019-20 (Q1FY20).

The non-banking finance company posted 24 per cent year-on-year drop in consolidated net profit at Rs 802 crore in Q1FY20. It had a profit of Rs 1,055 crore in the year-ago quarter.

Net interest income during the quarter declined 13 per cent at Rs 1,475 crore from Rs 1,690 crore in the corresponding quarter of previous fiscal.

The company’s