Indiabulls Housing Finance Ltd Reports 21% Profit Surge in Q4

Indiabulls Housing Finance Ltd reported a 21% increase in consolidated net profit, reaching Rs 319 crore for the March quarter, compared to Rs 263 crore last year. Revenue from operations rose to Rs 2,205 crore. The company also saw a decline in gross and net non-performing assets, indicating improved asset quality.

Indiabulls Housing Finance Ltd on Friday posted a 21 per cent rise in consolidated net profit to Rs 319 crore for the March quarter.

The mortagage firm had reported a net profit of Rs 263 crore in the year-ago period.

Its revenue from operations rose to Rs 2,205 crore for the March quarter as compared to Rs 2,075 crore in the year-ago period, Indiabulls Housing Finance said in a regulatory filing.

Total income of the company rose to Rs 2,255 crore as compared to Rs 2,077 crore in the same quarter a year ago.

With regard to asset quality, the company's gross non-performing assets (NPAs) declined to 2.69 per cent at the end of March 2024 against 2.85 per cent a year ago.

Net non-performing assets (NPAs), too, moderated to 1.52 per cent from 1.89 per cent of the total advances in the previous year.

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