DHFL net profit for Q1 FY 12 up by 28 pc

MUMBAI: DHFL, India's third largest housing finance company, today said that its net profit jumped by 28.38 per cent to Rs 65.78 crore for the quarter ended June 30, 2011 as against Rs 51.24 crore in the corresponding quarter last year.

Profit before tax grew by 31.14 per cent to Rs 87.38 crore for the quarter ended June 30, 2011 as against Rs 66.63 crore in the corresponding quarter previous year, a company statement said here.

The company's loan disbursements grew by 22.01 per cent to Rs 1,554.41 crore during the first quarter ended June 30, 2011 as against Rs 1,274.05 crore in the corresponding quarter previous year.

The loan sanctions grew by 17.44 per cent to Rs 2,078.57 crore during the first quarter ended June 30, 2011 as against Rs 1,769.95 crore in the corresponding quarter previous year.

The company registered a total income of Rs 497.70 crore for the quarter ended June 30, 2011 as against Rs 298.90 crore in the corresponding quarter last year, registering a growth of 66.51 per cent.

Net NPA for the quarter ended June 30th, 2011 stood at 0.23 per cent and Gross NPA stood at 0.77 per cent, the release said.

DHFL has entered into a home loan syndication agreement with Yes Bank for distribution of home loans to all YES BANK customers.

"The company has a robust growth plan in terms of improving its network through its own branches and alliances across the country and has achieved an asset base of Rs 16,000 crore as on June 30th, 2011," DHFL's Head-Finance Prashant Chaturvedi said.