Indiabulls Housing Fin Q4 net up 22%

Indiabulls Housing Finance Ltd has posted a 22 per cent increase in its fourth quarter consolidated net profit helped by higher other income and lower tax expenses.

During January-March, the housing finance company posted a net profit of Rs 451 crore against Rs 371 crore, a year ago.

Income from operations increased seven per cent to Rs 1,244 crore. Other income more than doubled during the quarter to Rs 246 crore.

The company has declared a dividend of Rs 9 per share on face value of share of Rs 2 each and said that it will pay the same on May 7.

Full-year net profit

For the full financial year ended March 31, 2014, the company has posted a net profit of Rs 1,569 crore, a growth of 24 per cent over the year-ago period.

The company’s loan book grew to Rs 41,169 crore as of March 31, 2014 from Rs 34,425 crore, a year earlier.

Shares of the Mumbai-based financier closed 3.22 per cent down at Rs 276.50 on the Bombay Stock Exchange. BL