Indiabulls Housing finance Q4 net profit declines 14% to Rs 263 crore

Indiabulls Housing Finance Limited on Monday posted a 14 per cent decline in consolidated net profit to Rs 263 crore for the March quarter.

This company had earned a net profit of Rs 307 crore in the year-ago period.

Its revenue from operation fell to Rs 2,077 crore for the March quarter as compared to Rs 2,191 crore in the year-ago period, Indiabulls Housing Finance said in a regulatory filing.

With regard to asset quality, the company's gross non-performing assets (NPAs) came down to 2.85 per cent at the end of March 2023 against 3.30 per cent a year ago.