Indiabulls Housing Finance stock jumps 7% post earnings

Written by PTI | Mumbai | Updated: Jul 26 2014, 01:16am hrs
Shares of mortgage lender Indiabulls Housing Finance today surged nearly 7 per cent after the company reported over 20 per cent surge in June quarter net profit.

The company's stock ended the day at Rs 392, up 6.81 per cent on the BSE. During the day, it gained 11.63 per cent to Rs 409.70

-- its 52-week high level.

On the NSE, the scrip zoomed 6.51 per cent to Rs 392.05.

On the volume front, 3.63 lakh shares of the company changed hands on the BSE, while over 18 lakh shares were traded on the NSE during the day.

Indiabulls Housing Finance had yesterday reported over 20 per cent surge in its June quarter net profit at Rs 424 crore.

The company had posted a post-tax net profit of Rs 352 crore in the year-ago period.

Its total revenues were up 19.3 per cent to Rs 1,602.8 crore, while the net interest income grew 17.1 per cent to Rs 701 crore.