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DHFL shares plunge 32%, hit 10-year low after a loss of Rs 2,224 cr in Q4

The stock has lost nearly 90 percent of its value in the last one year

July 15, 2019 / 11:37 AM IST
 
 
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Dewan Housing Finance Corporation (DHFL) shares crashed nearly 32 percent to hit a 10-year low of Rs 46.70 intraday on July 15 after posting a loss for first time since inception and warning about its survival.

The stock was trading at Rs 47.50, down Rs 20.95, or 30.61 percent on the BSE at 1131 hours IST. It lost nearly 93 percent of its value in the last one year.

The housing finance company posted a loss of Rs 2,224 crore for the quarter ended March 2019, against a profit of Rs 314 crore in the December quarter and Rs 134 crore in the June quarter of last year.

"In the backdrop of a significant slowdown in disbursement and loan growth after 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 said in a BSE filing.