1. Indiabulls Housing Finance Q2 net up 23%

Indiabulls Housing Finance Q2 net up 23%

Indiabulls Housing Finance on Friday reported a 23% year-on-year (y-o-y) rise in its consolidated net profit to Rs 684.31 crore for the September quarter.

By: | Mumbai | Published: October 22, 2016 6:11 AM

Indiabulls Housing Finance on Friday reported a 23% year-on-year (y-o-y) rise in its consolidated net profit to Rs 684.31 crore for the September quarter. On a standalone basis, the net profit stood at Rs 641.1 crore.

The company said its business goal of reducing funding from bank term loans to below 40% by FY2018 has already been achieved. Around 83% of incremental funding in the last 12 months was from debentures and securities and sell downs. It raised Rs 19,450 crore through bonds in H1FY17 as compared to Rs 17,330 crore raised in FY15 and FY16 combined.

SBBJ logs R210-cr loss in Sept quarter

SBI associate State Bank of Bikaner and Jaipur (SBBJ) has reported a loss of Rs 210.10 crore for the September quarter, mainly on account of higher NPAs due to changes in the group’s policy of classifying loans and advances.
The bank had reported a net profit of Rs 180.63 crore for the year-ago period.

Provision and contingencies rose to Rs 850.01 crore as against Rs 236.71 crore. Total income fell slightly to Rs 2,614.21 crore from Rs 2620.34 crore. PTI

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