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DHFL spurts after paying interest on NCDs

Capital Market 

Dewan Housing Corporation was up 4.06% to Rs 93.60 at 09:44 IST on the BSE, after the company announced that it had made full payment towards interest payable on secured redeemable non-convertible debentures.

The announcement was made after market hours yesterday, 11 June 2019.

Meanwhile, the S&P was down by 152.49 points, or 0.38% to 39,797.97.

On the BSE, 12.34 lakh shares were traded in the counter so far compared with average daily volumes of 36.45 lakh shares in the past two weeks. The stock had hit a high of Rs 95.90 and a low of Rs 93 so far during the day. It hit a 52-week high of Rs 690 on 3 September 2018 and a 52-week low of Rs 80.75 on 7 June 2019.

Dewan Housing (DHFL) announced that the company had made full payment towards interest payable on secured redeemable non-convertible debentures (NCDs) issued by way of public issue within the cure period of seven working days. The company has made interest payments in lieu of Rs 961 crore as committed to its holders. With this tranche, the company confirms full payment and will seek rating upgrades from agencies, DHFL said.

DHFL reported a 36.7% reduction in the net profit to Rs 313.60 crore on 12.4% rise in the total income to Rs 3255.89 crore in Q3 December 2018 over Q3 December 2017.

DHFL's main business is of providing loans to for construction or purchase of residential property, loans against property.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, June 12 2019. 09:48 IST
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