DHFL's net profit rise by 29% in Q2FY17; shares soar

Dewan Housing Finance Corporation Ltd on Monday announced its financial results for the quarter ended on September 30. The company reported a net profit of Rs 232.6 crore, a rise of 29%, as against Rs 180.3 crore for the quarter ended on September 30,2015.

Post the announcement of the results, at 1314 hours, the shares of the company were trading at Rs 303.15 per piece, up 0.70%, or Rs 2.10 on BSE.

In a regulatory filing, the company said, that its total income increased from Rs 1811.6 crore in Q2FY16 to Rs 2,167.7 crore in Q2FY17, a jump by 19.6%. The debt-equity ratio, as on September 30 stood at 12.82.

The Net profit after tax, during the quarter stood at Rs 43,402 lakhs as compared to Rs 35,364 lakhs during the same period last year. on quarter-on-quarter basis, the net profit after tax increased from Rs 20,140 lakhs in Q1FY17 to Rs 23,261 lakhs in Q2FY17.

On the basis of the Audit Committee, the Board of Directors, the company also declared an Interim Dividend for the current financial year, of Re 1 per share i.e. @10% on the equity shares of Rs 10 each.