Indiabulls Housing Finance Q4 Profit Up 21% to Rs 319 Cr
Indiabulls Housing Finance reports a 21% increase in Q4 profit to Rs 319 crore, driven by revenue growth and improved asset quality. Gross NPAs declined to 2.69% in March 2024.
New Delhi, May 24 (PTI) Indiabulls Housing Finance Ltd on Friday posted a 21 per cent rise in consolidated net profit to Rs 319 crore for the March quarter.
The mortagage firm had reported a net profit of Rs 263 crore in the year-ago period.
Its revenue from operations rose to Rs 2,205 crore for the March quarter as compared to Rs 2,075 crore in the year-ago period, Indiabulls Housing Finance said in a regulatory filing.
Total income of the company rose to Rs 2,255 crore as compared to Rs 2,077 crore in the same quarter a year ago.
With regard to asset quality, the company's gross non-performing assets (NPAs) declined to 2.69 per cent at the end of March 2024 against 2.85 per cent a year ago.
Net non-performing assets (NPAs), too, moderated to 1.52 per cent from 1.89 per cent of the total advances in the previous year.
The mortagage firm had reported a net profit of Rs 263 crore in the year-ago period.
Its revenue from operations rose to Rs 2,205 crore for the March quarter as compared to Rs 2,075 crore in the year-ago period, Indiabulls Housing Finance said in a regulatory filing.
Total income of the company rose to Rs 2,255 crore as compared to Rs 2,077 crore in the same quarter a year ago.
With regard to asset quality, the company's gross non-performing assets (NPAs) declined to 2.69 per cent at the end of March 2024 against 2.85 per cent a year ago.
Net non-performing assets (NPAs), too, moderated to 1.52 per cent from 1.89 per cent of the total advances in the previous year.
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