Indiabulls Housing Finance Q1 Net down 4.4%

Indiabulls Housing Finance Q1 Net down 4.4% New Delhi: Indiabulls Housing Finance on Tuesday reported 4.4 percent fall in consolidated net profit to Rs 351.49 crore in the first quarter ended June 30, 2013.

Its net profit for the same period a year ago stood at Rs 367.58 crore.

Total income of the company during the quarter under review was at Rs 1,312.38 crore, down from Rs 1,323.43 crore in the corresponding quarter of previous fiscal.

On standalone basis, the net profit fell by 6.7 percent to Rs 326.86 crore in the first quarter from Rs 360.96 crore year ago.

The sales turnover during the quarter under review stood at Rs 1,261.03 crore, down from Rs 1,305.26 crore a year ago.

The company has declared an interim dividend of Rs 6 per equity share for the current financial year.

Also, the equity shares of Indiabulls Housing Finance were listed and admitted to dealings on the exchange in the list of 'T' Group Securities.

The shares of the company today rose to its 52-week highs of Rs 283.50 apiece on the BSE, and finally closed at Rs 283.40 per share.

PTI