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Indiabulls Housing Finance (IHFL) reported a 29 per cent year-on-year increase in standalone net profit at ₹968 crore in the first quarter ended June 30, 2018, against ₹750 crore in the year-ago quarter.
The board of directors of the company declared an interim dividend of ₹10 per equity share (of face value ₹2 per share) for the financial year 2018-19.
In the reporting quarter, revenue from operations was up 26 per cent y-o-y at ₹3,601 crore.
However, other income (income received/ recognised by the company from its cash equivalents and current investments in the form of dividend income on units of mutual funds, dividend from subsidiaries, etc) was down 28 per cent y-o-y at ₹188 crore.
Finance costs rose 23 per cent y-o-y at ₹2,201 crore. Employee benefit expenses jumped 55 per cent y-o-y at ₹194 crore.
Loan assets increased by ₹3,385 crore during the reporting quarter to ₹1,25,963 crore.
The housing finance company’s consolidated net profit in the reporting quarter was up 30 per cent at ₹1,055 crore (₹810 crore in the year-ago quarter).
Gross non-performing assets edged down a tad at 0.78 per cent of gross advances as of June-end 2018, against 0.80 per cent as of June-end 2017.
Shares of the company closed at ₹1,301.15 apiece, up 1.22 per cent over the previous close on the BSE.
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