Indiabulls Housing Finance’s net profit rises by 3% in Q1 FY24, ET RealEstate
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NEW DELHI: Indiabulls Housing Finance (IBHFL) has reported a growth of 3.33 per cent in its net consolidated profit during the quarter ended June 30, 2023. Its profit after tax stood at Rs 296.19 crore in Q1 FY24 as against Rs 286.64 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 1,915.62 crore in Q1 FY24, a dip of 7.80 per cent from Rs 2,077.72 crore it recorded in the similar quarter last year.
During the current quarter, on April 29, 2023, B.C. Patnaik has resigned from the board of the company. The board of directors of the company have appointed Rajiv Gupta, director & chief executive officer of LICHFL Asset Management Company, as Life Insurance Corporation of India (LIC) Nominee Director on the board of the company.
Subsequent to the current quarter, the Securities Issuance and Investment Committee of the board of directors of the company have approved and allotted 1,013,259 NCDs of face value of Rs 1,000 each, aggregating to Rs 1,013,259,000 on public issue basis.
As on June 30, 2023, the company’s net worth stood at Rs 16,188.59 crore, debt-equity ratio was 2.85, total debts to total assets was 0.68, gross non-performing assets (NPAs) were 3.67% and net NPAs were 2.14%.