Indiabulls Housing Finance reported a 25 per cent increase in net profit at ₹788 crore in the first quarter ended June 30, as against ₹630 crore in the year-ago period. The Board of Directors of the company declared an interim dividend of ₹9 per equity share (of ₹2 face value) for 2017-18.
Ashwini Kumar Hooda, Deputy Managing Director, attributed the profitability to 29 per cent year-on-year (y-o-y) growth in its loan portfolio.
Loans disbursed during the quarter were up 29 per cent at ₹6,800 crore. Of the total loans disbursed during the quarter, almost 59 per cent were home loans and the balance loan against property and developer loans.
Overall loan assets were up 33 per cent at ₹94,451 crore (₹71,026 crore).
Net interest income rose 26 per cent to ₹1,324 crore (₹1,053 crore).