Indiabulls Housing Finance shares up by 9% as firm posts profit surges to Rs 276 cr

News24

LAST UPDATED: May 20, 2021, 3:01 p.m.

New Delhi (Anish Yande): Shares of Indiabulls Housing Finance inclined by over 9 percent on Thursday’s trading session following the announcement of results for the March quarter of 2021.

Indiabulls Housing Finance’ share opened at Rs 197.45 per share at an increase of 9% on BSE. The stock gained to Rs 216.45 per share at an intraday high.

The market cap of the private banking company rose to Rs 9,639 crore.

Indiabulls Housing Finance net profit rises to Rs 272 crores:

Indiabulls Housing Finance recorded a consolidated net profit of Rs 137.06 crore in the March quarter of FY20. The private banking company’s consolidated net profit rose to Rs 276.23 crore in the fourth quarter ended March 2021. Indiabulls Housing Finance had recorded a growth in net profit at an increase of 101.5% on a year-on-year basis.

For the full year FY21, Indiabulls Housing Finance consolidated net profit has risen to Rs 1,201.59 crore. The net profit was of the private banking company declined by 45.4 percent on a yearly basis as compared to the previous fiscal.

The private banking company’s net interest income was posted at Rs 828 crore in the March quarter of 2020 that declined to Rs 764 crore in the March quarter of FY21. The net interest income fell by 7.7 percent on a year-on-year basis.

Income of Indiabulls Housing Finance falls 24 percent:

The total income of Indiabulls Housing Finance fell to Rs 10030.21 crore in the financial year 2021, falling by 24.1% as compared with the year ended 31 March 2020.

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Indiabulls Housing’s loan book was at Rs 73,065 crore in the quarter ended March 31, 2020, declining by 9.61% to Rs 66,047 crore to Q4 FY21. 

Gross non-performing assets were at Rs 2,113 crore as of 31 December 2020 increasing to Rs 2,147 crore as of the quarter ended 31 March 2021.

The gross NPA ratio rose to 2.66% in the March quarter of 2021 as compared to 2.44% in the December quarter of 2020.

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