New Delhi: Indiabulls Housing Finance Ltd’s consolidated net profit dropped 44 percent to Rs 546.87 crore for the third quarter of the current fiscal as compared to a net profit of Rs 972.82 crore in the same quarter of the previous financial year.
Its total income declined about 25 percent to Rs 3,369.76 crore in the third quarter of ongoing fiscal as compared to Rs 4,477.97 crore in the same quarter of the previous fiscal.
Its interest income went down to Rs 2,669.54 crore as against Rs 3,697.39 crore in same period of the previous fiscal, it said in a regulatory filing.
The company has approved issuing secured non-convertible debentures and unsecured, redeemable, non-convertible subordinate debt in the nature of debentures up to Rs 5,000 crore. It will be done on a private placement basis. It may be done in one or more tranches.
The board also declared an interim dividend of Rs 6 per equity share for the current fiscal, whose record date is 15 February.
A Public Interest Litigation has been filed by Citizens Whistle Blower Forum in the Delhi High Court in which a number of allegations have been made against the Indiabulls group like the money loaned by the group were routed back to the promoters of the group through shell companies or other firms.