Indiabulls Housing Finance Q2 net profit down by 32% at INR 710 crore

Indiabulls Q2 report

An interim dividend of ₹ 7.0 per share of face value ₹ 2/-, amounting to 350%, has been declared in the board meeting held on November 6th, 2019.

The Board of Directors of Indiabulls Housing Finance Ltd. (IBH), India’s second largest housing finance company, announced its unaudited financial results for the quarter ended September 30th, 2019.

The numbers are reported under Indian Accounting Standards (Ind AS).

IBH’s Profit :

Particulars (crore) H1 FY20 H1 FY19
PAT 1511 2099

 

Q2 FY20 Q1 FY20
710 802

 

An interim dividend of ₹ 7.0 per share of face value ₹ 2/-, amounting to 350%, has been declared in the board meeting held on November 6th, 2019.

Highlights:

• Balance sheet size at the end of Q2 FY20 is at ₹1,11,618Cr., and the on balance sheet loan book stands at ₹82,135Cr.
• Net worth stands at ₹18,700Cr
• PAT for H1 FY20 is ₹1,511 Cr. and for Q2 FY20 is ₹710 Cr.
• Gross NPA stoodat₹ 1,611 at the end if Q2 FY20 which is 1.51% of total loan assets. The Gross NPA is down from
₹1,662 Cr. (1.47%) at the end of Q1 FY20
• Net NPA is down to ₹1,139 Cr. which is 1.07%, this is down from ₹ 1,246(1.10%)at the end of Q1 FY20. Thus the Net NPA are lower both on absolute number and as a percentage
• Capital adequacy stands at28.93%
• Our liquidity coverage ratio is at 783%, which is 16 times of what RBI has stipulated for NBFCs from December, 2020 onwards.

Gagan Banga, Vice Chairman and MD, IBH commented “At a minimum we are now looking at disbursing ₹ 30,000 Cr. of retail home loans and LAP over the next 12 months. The business is otherwise on extremely strong footing. Our asset quality, which has been tightly scrutinized by regulators and auditors, is stable at 1.51% of GNPA and 1.07% of Net NPA. Our CRAR is the highest amongst large non-banks at 28.93% versus 18.30% for top five NBFCs. Our liquidity coverage is at 20% versus 5% for top five NBFCs and 16 times as stipulated by RBI.”