Dewan Housing Finance profit jumps 48% in FY13

Dewan Housing Finance Corp (DHFL) reported a 48 per cent increase in full-year net profit aided by strong growth in disbursements, especially in tier-II and tier-III cities.

In FY 2012-13, the home loan provider posted a net profit of Rs 452 crore against Rs 306 crore, a year ago.

Total disbursements during the year increased 47 per cent to Rs 13,358 crore.

The January to March quarter figures are not strictly comparable as the previous quarter’s results did not include the performance of recently amalgamated First Blue Home Finance Ltd.

The average ticket size of DHFL is Rs 14.89 lakh, Prashant Chaturvedi, CFO, said.

Net interest income, the difference between interest earned and interest expended, increased 28 per cent to Rs 764 crore.

Gross non per-forming assets for the year declined to 0.68 per cent as against 0.78 per cent, a year ago.

The board has recommended a dividend of Rs 3 a share.

DHFL shares closed at Rs 173.45, down 1.84 per cent, on the Bombay Stock Exchange. The results were declared after close of market hours.