DHFL Q2 Net rises 19.4pc to Rs 86 cr

Housing finance firm Dewan Housing Finance Corporation (DHFL) today posted a 19.42 per cent rise in net profit at Rs 85.85 crore for the second quarter ended September 30, 2012.

The net profit stood at Rs 71.89 crore in the same period of previous fiscal.

Total income rose 38.86 per cent to Rs 817.87 crore in the July-September period compared to Rs 588.98 crore in the same period last fiscal.

"We have been growing at over 40 per cent CAGR for over last 17 quarters consistently... This growth is largely because of our continuous focus on the affordable housing segment in tier-II and III markets," DHFL Chairman and Managing Director Kapil Wadhawan said.

According to the company, loan disbursement and sanctions stood at Rs 2,446.75 crore and Rs 3,270.27 crore, respectively during the September quarter.

For first half of FY13, net profit jumped 18.89 per cent to Rs 163.68 crore compared to Rs 137.67 crore in the same period last fiscal.

Total income in the first half of the year grew 43.26 per cent to Rs 1,556.77 crore and net interest margin stood at 2.84 per cent.

On NPAs, DHFL said it did not have net NPAs by the end of September quarter but had a gross NPA of 0.69 per cent compared to 0.97 per cent in the same period last fiscal.

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