DHFL Q1 Net jumps 25% to Rs 120 crore

MUMBAI: Mortgage lender DHFL today reported a 25 per cent rise in net profit at Rs 120.3 crore in the first quarter ended June 30.

Combined together, DHFL and First Blue, which got merged with the mortgage lender in March, had post-tax profit of Rs 96.4 crore in the corresponding period last year.

DHFL's total income grew 18 per cent to Rs 1,126.6 crore from Rs 952.3 crore in the year-ago period, while the core net interest income was up 19 per cent to Rs 226.1 crore.

The city-based company reported a 28 per cent growth in the non-interest income to Rs 62.6 crore.

It witnessed a compression in the net interest margin to 2.72 per cent during the reporting quarter as against the 2.86 per cent in the year-ago period.

Its loan book grew 27 per cent over last June to Rs 35,130 crore at the end of the first quarter.

The gross non-performing assets ratio improved to 0.84 per cent in Q1 as against 0.90 per cent a year ago.

DHFL's scrip gained 4.37 per cent to end at Rs 160.10 at the BSE, whose 30-share benchmark index rose 0.71 per cent.