Indiabulls Housing Finance's net profit rises by 23% to Rs 630 crore

Indiabulls Housing Finance reported consolidated net profit of Rs 630.05 crore for the quarter ended June, 2016 (Q1FY17), registering growth of 23.23% yoy (year-on-year). However, the current net profit declined by 6.72% compared to preceding quarter.

Consolidated total income stood at Rs 2,371 crore, witnessing rise of 29.69% yoy, but a decline of 1.20% qoq (quarter-on-quarter).

On standalone basis, the financial service provider reported net profit of Rs 626.47 crore, increasing by 25.45% yoy. However, the net profit also declined by 2.39% in comparison to preceding quarter.

The net interest income (NII) was around Rs. 827.89 crore, reporting growth of 37.79% yoy and 4.65% qoq.

Indiabulls Housing Finance’s balance sheet improved by 37% to Rs 820.69 billion in June quarter, against Rs 599.59 billion in the corresponding period of the previous year.

A first interim dividend of Rs. 9 per share of face value of Rs. 2, amounting to 450%, has been declared in the Board meeting held on 25th July, 2016.

The share price of Indiabulls Housing Finance was trading at Rs. 744 up by 9 points or 1.22%.