Latest News | Indiabulls Housing Finance Q4 Net Profit Declines 14 Pc to Rs 263 Cr

New Delhi, May 22 (PTI) Indiabulls Housing Finance Limited on Monday posted a 14 per cent decline in consolidated net profit to Rs 263 crore for the March quarter.

This company had earned a net profit of Rs 307 crore in the year-ago period.

Also Read | Delhi: Blistering Heatwave Scorches Parts of National Capital, Mercury Soars to 46 Degrees.

Its revenue from operation fell to Rs 2,077 crore for the March quarter as compared to Rs 2,191 crore in the year-ago period, Indiabulls Housing Finance said in a regulatory filing.

With regard to asset quality, the company's gross non-performing assets (NPAs) came down to 2.85 per cent at the end of March 2023 against 3.30 per cent a year ago.

Also Read | India Lost Over 1.3 Lakh Lives in 573 Disasters Linked to Extreme Weather, Climate Change in 50 Years: World Meteorological Department.

Likewise, net NPA too declined to 1.89 per cent from 2.24 per cent of the total advances in the previous year.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)