Indiabulls Housing Finance share price surged over 8 percent intraday on November 12, a day after the company reported its September quarter earnings.
On November 11, the company reported a nearly 54 percent decline in its consolidated net profit to Rs 323.20 crore for the second quarter ended September 30.
The company had posted a net profit of Rs 702.18 crore in the corresponding quarter of the previous financial year.
Sequentially, the company's net profit was higher by 18.5 percent, from Rs 272.84 crore in the preceding quarter ended June.
Its total income fell 25.9 percent to Rs 2,581 crore during July-September 2020 as compared with Rs 3,481.40 crore in the year-ago period.
On the standalone basis, the net profit in the September 2020 quarter declined 53.85 percent to Rs 235.37 crore, against Rs 510.09 crore a year ago. Its total income fell to Rs 2,233.07 crore, from Rs 2,988.07 crore a year ago.
At 10:26 hrs, Indiabulls Housing Finance was quoting at Rs 171.20, up Rs 11.75, or 7.37 percent on the BSE.
The share touched its 52-week high Rs 376.80 and 52-week low Rs 81.25 on 29 November 2019 and 20 March 2020, respectively.
Currently, it is trading 54.56 percent below its 52-week high and 110.71 percent above its 52-week low.
With inputs from PTI
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