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Consolidated profit before tax rose 13.4% year on year to Rs 422.32 crore in the quarter ended 31 March 2023.
On full year basis, the housing finance company's consolidated net profit skid 4.1% to Rs 1,129.69 crore on 3% decline in total income to Rs 8,727.80 crore in FY23 over FY22.
On the asset quality front, the housing finance company's gross non-performing assets (NPAs) stood at Rs 1,918 crore as on 31 March 2023 as against Rs 2,302 crore as on 31 March 2022.
The ratio of gross NPAs to gross advances stood at 2.85% as on 31 March 2023 as against 3.30% as on 31 March 2022.
The ratio of net NPAs to gross advances stood at 1.89% as on 31 March 2023 as against 2.24% as on 31 March 2022.
Net interest income stood at Rs 735 crore in Q4 FY23 while NIM margin stood at 4% as on 31 March 2023.
Meanwhile, the board has approved issuance and allotment of secured and/or unsecured, listed, and/or unlisted, redeemable non-convertible debentures, on private placement or public issue basis or otherwise, in one or more tranches, for an aggregate amount up to Rs 5,000 crore.
Indiabulls Housing Finance is a housing finance company, regulated by the National Housing Bank (NHB). The company offers competitively priced home loans in the affordable housing segment.
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