Total income declined by 18% year-on-year (YoY) to Rs 2421.96 crore during the quarter.

Sequentially, the housing financier's net profit and total income have contracted by 16.1% and 3.7%, respectively.

Net interest income declined by 7.7% to Rs 764 crore in Q4 FY21 from Rs 828 crore in Q4 FY20. Operating profit before provisions and contingencies rose 5.8% to Rs 695.99 crore in the fourth quarter as compared with same period last year.

Provisions and write offs in Q4 FY21 were at 316.49 crore, down by 40.9% from Rs 535.69 crore in Q4 FY20.

The company's pre-tax profit in the fourth quarter surged 278.1% to Rs 356.83 crore in Q4 FY21 from Rs 94.38 crore reported in the corresponding period last fiscal.

Indiabulls Housing's loan book as on 31 March 2021 was at Rs 66,047 crore, lower by 9.61% as compared with Rs 73,065 crore as on 31 March 2021.

On the asset quality side, gross non-performing assets (NPAs) stood at Rs 2,147 crore as on 31 March 2021 as against Rs 2,113 crore as on 31 December 2020.

The gross NPA ratio stood at 2.66% as on 31 March 2021 compared to 2.44% on 31 December 2020. The net NPA ratio stood at 1.59% as on 31 March 2021 from 1.46% as on 31 December 2020.

Total provisions held were Rs 2,458 crore, which is 3.7% of loan book and 2.7x times of the regulatory requirement.

"Had the company not chosen to de-grow its book in the past 1 year, the above Gross NPAs of 2.66% would have been at 2.31%," Indiabulls Housing Finance said in a statement.

The company reported 45.4% drop in consolidated net profit to Rs 1201.59 crore on 24.1% fall in total income to Rs 10030.21 crore in the year ended 31 March 2021 compared with the year ended 31 March 2020.

CRAR was at 30.7% as on 31 March 2021 as against 27.1% as on 31 March 2020. Tier 1 ratio was at 24% as on 31 March 2021 as against 20.3% as on 31 March 2020.

Indiabulls Housing Finance (IBHFL) is India's third largest housing finance company, regulated by the National Housing Bank (NHB). The company offers competitively priced home loans in the affordable housing segment.

The scrip rose 0.36% to currently trade at Rs 193.95 on the BSE.