Indiabulls Housing Finance posts 14% fall in profit, net interest income surges to Rs 734 crore

Indiabulls Housing Finance on Monday reported 14.4 percent fall in net profit at Rs 262.6 crore for the March quarter versus Rs 306.8 crore year-on-year (YoY). The net interest income (NII), however increased by 13.5 percent to Rs 733.6 crore versus Rs 646.3 crore YoY. The company’s consolidated revenue from operation fell by 5.2 percent to Rs 2,075 crore as compared to Rs 2,189 crore in the year-ago period.

The company's board approved the issuance and allotment of secured and/or unsecured, listed and/or unlisted, redeemable non-convertible debentures on a private placement or a public issue basis, for an amount of Rs 5,000 crore.

As on March 31, 2023, the company's net worth stood at Rs 16,028.93 crore, outstanding borrowing was Rs 31,114.47 crore, debt-equity ratio was 2.96, total debts to total assets was 0.70, net profit margin was 11.10 percent, gross non-performing assets (NPAs) were 3.71 percent and net NPAs were 2.48 percent.