GIC Housing Finance’s net profit up 6.80% in Q4 FY23, Real Estate News, ET RealEstate

June 23, 2023

NEW DELHI: GIC Housing Finance has reported a growth of 6.80 per cent in its net consolidated profit during the quarter ended March 31, 2023. Its profit after tax stood at Rs 52.33 crore in Q4 FY23 as against Rs 49 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE fling.

The company’s net consolidated total income stood at Rs 287.40 crore in Q4 FY23, a minor dip of 0.88 per cent from Rs 289.95 crore it recorded in the similar quarter last year.

The board of directors of the company approved the revalidation of board resolution for raising of funds by issue of
redeemable non-convertible debentures (NCDs)/bonds through private placement basis upto Rs 2,500 crore. During the year ended March 31, 2023, the company has raised Rs 325 crore from the issue of secured, listed, rated, redeemable, taxable NCDs (Series 07) via private placement.

The board also recommended a dividend for FY23 @ 45% i.e. Rs 4.50 per equity share of Rs 10 each. It approved the appointment of Darshit Sheth as chief compliance officer.

As on March 31, 2023, the company’s net worth stood at Rs 1,699.30 crore, debt-equity ratio was 5.38, total debts to total assets was 83.72%, net profit margin was 18.21% and stage 3 ratio was 4.43%, it said in the regulatory filing.

  • Published On May 18, 2023 at 08:21 AM IST

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