Indiabulls Housing Finance announces interim dividend of Rs 10 per share

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Published: April 24, 2019 6:07:03 PM

Indiabulls Housing Finance on Wednesday announced an interim dividend of Rs 10 per share for the financial year ending March 2019.

rupee, economy, dollar, oilIn Q4, the company recorded 7.03 per cent fall in consolidated profit at Rs 1,006.15 crore, in line with the market estimates.

Indiabulls Housing Finance on Wednesday announced an interim dividend of Rs 10 per equity share on the face value of Rs 2 per share for the financial year ending March 2019. The record date for determining the names of the eligible members for dividend has been set on May 8, the NBFC said in a regulatory filing.

In addition, the Board authorised the firm to issue NCDs worth up to Rs 26,000 crore. The Board also “considered and approved the proposal of issuing Secured and Unsecured Non-Convertible Debentures, upto INR 25,000 Cr. and INR 1,000 Cr. respectively, on private placement basis.”

In Q4, the company recorded 7.03 per cent fall in consolidated profit at Rs 1,006.15 crore, in line with the market estimates. The NBFC had posted a profit of Rs 1,082.23 crore in the corresponding quarter last year.

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The company’s total income increased from Rs 4,000.24 crore in the third quarter to Rs 4,209.81 crore in the fourth quarter.

In a regulatory filing, the company also approved shifting the registered office to the corporate head office in Gurugram. “The proposed shifting would enable the company management to monitor its business more economically, viably and efficiently and to streamline its various corporate functions at reduced cost with better administrative control, supervision and convenience which would facilitate enlarging its business operations,” the NBFC said in an exchange filing.

In Q3 results, the company had  expected the PAT growth of 15-16 per cent for the current fiscal year and 17-19 per cent for the next fiscal year. Indiabulls Housing Finance had also said that its total assets are likely to rise 20-25 per cent and the balance sheet to grow at nearly 10 per cent.

The shares of Indiabulls Housing Finance Ltd. ended the day at Rs 750, up 5.80, or 0.78 per cent on NSE.

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