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Indiabulls Housing Finance reports rise of 30 percent in net profit at Rs 1,048.68 crore

The company's net profit in the corresponding April-June period of 2017-18 stood at Rs 804.89 crore.


PTI 02 Aug 2018, 02:40 PM India

Indiabulls Housing Finance has reported a rise of 30 percent in consolidated net profit at Rs 1,048.68 crore for the quarter ended June.

The company's net profit in the corresponding April-June period of 2017-18 stood at Rs 804.89 crore.

In a regulatory filing, the company said its total revenue during the quarter increased to Rs 4,071.32 crore from Rs 3,288.24 crore in the year-ago period.

The company said it has adopted the Indian Accounting Standards (Ind AS) from April 1, 2018, and the effective date of the transition is April 1, 2017.

On a standalone basis, the net profit in April-June period of 2018-19 was up 29 percent to Rs 967.95 crore against Rs 749.99 crore earlier. Income increased to Rs 3,789.45 crore from Rs 3,115.59 crore.

The stock of the company closed 1.22 percent higher at Rs 1301.15 on the BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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