Dewan Housing Finance reports 60% growth in Q4

Dewan Housing Finance Corporation (DHFL) has reported 59.86% surge in net profit at Rs 93.76 crore for the fourth quarter ended March 31, 2012. The company had a net profit of Rs 58.65 crore in the same period in the previous fiscal.

The company’s total income rose to Rs 721.11 crore during the quarter as against Rs 434.63 crore in the corresponding quarter last year, up by 65.91%.

For the year ended March, 2012, the company’s net profit grew by 15.57% to Rs 306.41 crore, against Rs 265.13 crore in the previous fiscal. At the same time, total income of the housing finance firm increased to Rs 2,469.68 crore in 2011-12, compared to Rs 1,451.24 crore a year ago.

During 2011-12, home loan sanctions increased to Rs 12845.30 crore as against Rs 8,949.48 crore in the previous fiscal, an increase of 43.5%. Disbursements rose to Rs 9,065.24 crore in compared to Rs 6,505.57 crore in 2010-11.