Dewan Housing Finance Corp Ltd: Q1FY18 Results
Dewan Housing Finance Ltd (DHFL) reported its standalone financial results for the quarter ended June 30, 2017.
The company reported NII de-growth of 1.3% QoQ to Rs 619.71 crore for Q1FY2017-18. Its NII for the quarter ended March 31, 2017 was Rs 627.91 crore.
DHFL's net profit (Excl. Exceptional Income) for the quarter rose by 5% QoQ to Rs 260.48 crore.
In Q4FY17 company has been benefited with exceptional income from sale its investments in DPLI (DHFL Pramerica Life Insurance Company limited) to its wholly owned subsidiary DIL ( DHFL Investments Limited) . This sale of investment have profited company with one time exceptional income of Rs.196.94 Crore.
The loans sanctioned as on June 30, 2017 increased by 23% to Rs 10,862.8 crore from Rs 8,800 crore during the previous corresponding quarter. The amount of disbursed loans stood at Rs 8236.9 crore, registering a 33% growth from previous corresponding quarter.
Its gross non-performing assets (GNPAs) increased moderately to 0.97 per cent from 0.94 per cent QoQ and net interest margin improved to 3.05 per cent from 3.04 per cent.
DHFL provides housing loans to the middle and lower income class section of society, both in the semi-urban and rural parts of India.
The company's stock opened at Rs 478.95 and closed at Rs 458.45, after touching high at Rs 479 intra-day.