DHFL falls 31% after poor show in quarterly results

Mumbai, July 15: Dewan Housing Finance Limited on Monday came under heavy selling pressure after the company reported a net loss of Rs 2,223 crore for the fourth quarter (Q4) of 2018-19 over the weekend.

At 11.26 a.m., DHFL was trading 30.61 per cent lower at Rs 47.50 apeice on the BSE.

"In the backdrop of a significant slowdown in disbursement and loan growth post September 2018, the financials of the company have been quite strained for the quarter impacting the overall performance of the year," Kapil Wadhawan, Chairman and Managing Director, DHFL said in a statement.

The housing lender's gross NPAs (non-performing asset) as on March 31, 2019 rose to 2.74 per cent as against 0.96 per cent during the like period of previous fiscal.

Besides, the DHFL on Saturday said it had defaulted on interest payments to the tune of Rs 48 crore on non-convertible debentures (NCDs), that were due on July 6 and 8.