MUMBAI: Indiabulls Housing Finance (IBHFL) has reported a profit of Rs 1,044.1 crore for the second quarter of the current fiscal, up 21.2 per cent over the year ago period.
The company’s profit after tax (PAT) was Rs 861.3 crore during July-September quarter of 2017-18.
As per the financial results submitted by the company to the stock exchanges, its total revenue was Rs 4,255.27 crore in the second quarter compared to Rs 3,452.45 crore in the year-ago period.
A release of the IBHFL said the company closed September 2018 with cash and liquid investments of Rs 21,249.7 crore.
“Maintaining adequate liquidity has been a long-standing operating principle of IBHFL’s business. Moreover, IBHFL follows a liquidity framework guided by Basel III and is in line with liquidity ratios prescribed for banks,” it added.
Commenting on the results, IBHFL’ Vice Chairman and MD Gagan Banga said: “Home sales, especially in our core segment of mid-income affordable housing have been strong and strengthening by the passing day. We are very well positioned to grow our business by 20 per cent plus in the current macro environment”.
IBHFL, which has declared an interim dividend of Rs 10 per share, further said the housing sector witnessed a strong growth in the number of launches especially in the affordable housing sector.
Source: Press Trust of India