Indiabulls Housing Finance has declared results for the fourth quarter of FY 23. Net profit of the company stood at 262.2 crore, down 14.4 percent from 306.8 crore in the previous year period.
In comparison to the same time a year earlier, the mortgage lender’s net interest revenue (the sum of interest collected minus interest paid) of 733.6 crore increased by 13.5 percent. The Gurugram-based firm revenue from operations was Rs. 2,075.29 crore. It was Rs. 2,189.31 crore in the same period last fiscal year.
The board of directors of the firm approved the private placement or public issue of 5,000 crore in the form of secured and/or unsecured, listed and/or unlisted, redeemable non-convertible debentures.
Category III and IV investors, who are also major holders as of the presumed date of allotment, would receive an extra incentive of 0.25 percent each year from the firm.
According to a regulatory statement made by the business to the stock markets, asset quality was stable for the quarter under review, with the company reporting the lowest gross non-performing assets (GNPA) at 2.85 per cent in six quarters.