BackIndiabulls Housing Finance Q4 Results: Net profit declines 14% to ₹262 crore, NII up 13%
The mortgage lender's net interest income - the difference between interest earned and interest expended, came in at ₹733.6 crore, registering a growth of 13.5 per cent, compared to ₹646.3 crore in the year-ago period.
PremiumIndiabulls Housing Finance announced its Q4FY23 results on May 22, reporting a net profit of ₹262.2 crore, registering a decline of 14.4 per cent, compared to ₹306.8 crore in the corresponding period last year. The mortgage lender's net interest income - the difference between interest earned and interest expended, came in at ₹733.6 crore for the January-March quarter, registering a growth of 13.5 per cent, compared to ₹646.3 crore in the year-ago period.
The Gurugram-based company's board approved the issuance and allotment of secured and/or unsecured, listed and/or unlisted, redeemable non-convertible debentures on a private placement or a public issue basis, for an amount of ₹5,000 crore.
The company is also offering an additional incentive 0.25 per cent per annum to category III and IV investors, who are also primary holders on the deemed date of allotment.
The company's revenue from operations during the fourth quarter stood at ₹2,075.29 crore, compared to ₹2,189.31 crore in the same quarter last fiscal. The board also announced the re-appointment of Achuthan Siddharth as the independent director of the company for a period of five years, starting from July 3, 2023 upto July 28, 2028.
As on March 31, 2023, the company's net worth stood at ₹16,028.93 crore, outstanding borrowing was Rs. 31,114.47 crore, debt-equity ratio was 2.96, total debts to total assets was 0.70, net profit margin was 11.10 per cent, gross non-performing assets (NPAs) were 3.71 per cent and net NPAs were 2.48 per cent.
Asset quality for the quarter under review was steady as the company reported the lowest gross non-performing assets (GNPA) at 2.85 per cent in six quarters, according to a regulatory filing by the company to the stock exchanges.
On May 22, shares of Indiabulls Housing Finance settled 1.47 per cent higher at ₹113.55 apiece on the BSE.
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