Indiabulls Housing Q1 net up 23%

Indiabulls Housing Finance reported a 23 per cent increase in net profit at ₹630 crore in the first quarter ended June 30, against ₹511 crore in the year-ago quarter. The housing finance company’s loan assets were up 31.5 per cent year-on-year to ₹71,026 crore as on June-end 2016. Net interest income increased 28 per cent to ₹1,053 crore. The company said a first interim dividend of ₹9 per share of face value ₹2, amounting to 450 per cent, has been declared by the board.