Dewan Housing Finance Q1 net rises 16% to Rs201 crore

Net profit rose to Rs201.4 crore in the three months ended 30 June from Rs173.3 crore in the year-ago period


Photo: Pradeep Gaur/Mint
Photo: Pradeep Gaur/Mint

Mumbai: Dewan Housing Finance Ltd said net profit for the April-June quarter rose 16% on the back of strong loan growth and a drop in the cost of funding.

Net profit rose to Rs.201.4 crore in the three months ended 30 June from Rs.173.3 crore in the year-ago period. Total income rose 18.5% to Rs.1,958.3 crore from Rs.1,652.2 crore in the year earlier.

The company’s net interest margin was at 2.91% for the June quarter compared with 2.8% in the preceding three months.

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