Custom Search

Thursday, July 23, 2015

Dewan Housing net profit climbs 18% to Rs 173 cr

Dewan Housing Finance Corporation Ltd has reported an 18 per cent increase in net profit at Rs 173 crore in the quarter ended June 30, 2015, as against Rs 147 crore in the year ago period.

In the reporting quarter, the housing finance company clocked 16 per cent increase in total income at Rs 1,653 crore (Rs 1,426 crore in the year ago period).

Total expenditure increased by 16 per cent at Rs 1,392 crore (Rs 1,203 crore).

DHFL reported 33 per cent increase in loan sanctions at Rs 7,858 crore (Rs 5,913 crore). Loan disbursements were up 14 per cent at Rs 4,938 crore (Rs 4,349 crore).

Source : Thehindubusinessline
Read more »

Indian Bank Q1 net up 4% at Rs 215 cr

Indian Bank today reported a 4 per cent increase in its net profit at Rs 215.28 crore for the first quarter ended June 30.

The bank’s net profit in the corresponding (April-June) quarter of the previous fiscal stood at Rs 207.16 crore.

The small rise in profit was attributed to provisioning towards wage revision and unhedged foreign currency exposure.

“Provision of Rs 83.13 crore has been made during the quarter towards balance in arrears for wage revision, which is effective from November 1, 2012.

“The aggregate liability provided as on June 30, 2015 is Rs 373.13 crore,” the bank said in a filing to BSE.

Also, based on available financial statements and the declaration from borrowers, the bank has estimated the liability and holds a provision of Rs 20.14 crore and allocated capital of Rs 49.42 crore as on June 30, on unhedged foreign currency exposure to their constituents, it said.

Total income increased by 8.5 per cent to Rs 4,494.54 crore for the reported quarter compared with Rs 4,144.01 crore in the same quarter last fiscal.

On provisioning towards bad loans and contingencies, the bank set aside a higher share of Rs 408.07 crore in the first quarter of FY16, as compared to Rs 325.62 crore earmarked during the same quarter in the previous fiscal.

The bank’s asset quality was retained at almost the previous level with net non-performing assets (NPAs) at 2.62 per cent of net advances in Q1-FY16, as against 2.48 per cent a year ago.

Gross NPAs too were restricted at 4.65 per cent of gross advances during the quarter under review, a little higher than 4.01 per cent a year ago.

Indian Bank shares traded at Rs 132.60 apiece on BSE, down 0.53 per cent from the previous close.

Source : Thehindubusinessline
Read more »

Lakshmi Vilas Bank Q1 profit rises 43% to Rs. 40.25 cr

Lakshmi Vilas Bank today reported a 42.98 per cent jump in net profit at Rs. 40.25 crore for the first quarter ended June 30, 2015, against Rs. 28.15 crore during the same period of the previous fiscal.

Its total income moved up to Rs. 693.05 crore, an increase of 18.39 per cent as against Rs. 585.36 crore in the year—ago period.

On the asset quality front, its gross Non Performing Assets (NPA) ratio stood at 2.72 per cent as against 3.96 per cent in the June 2014 quarter.

The Tamil Nadu—based bank’s net NPA during the quarter were at 1.72 per cent.

Shares of Lakshmi Vilas Bank were trading at Rs. 96.05 apiece, up 1.75 per cent from the previous close on the BSE.

Source : Thehindubusinessline
Read more »

Monday, July 20, 2015

Andhra Bank pays dividend to Govt

Andhra Bank has paid a dividend of Rs.73.57 crore to the Union Government for the year 2014-15. SK Kalra, MD and CEO (Additional Charge), Andhra Bank, handed over the dividend cheque to Finance Minister Arun Jaitley in New Delhi on Monday. The dividend declared for the year is 20 per cent, according to a release from the bank.

Source : Thehindubusinessline

Read more »

LIC Housing Fin Q1 net up 19%

LIC Housing Finance reported a 19 per cent rise in net profit at Rs 382 crore for the first quarter ended June 30, 2015 on the back of healthy retail, mortgage loan growth and lower bad loans.

The non-banking financial company’s net profit a year ago was at Rs 322 crore.

Net interest income increased to Rs 659 crore, up 30 per cent as against Rs 506 crore.

The outstanding loan portfolio grew by 18 per cent to Rs 1.10 lakh crore from Rs 93,609 crore a year ago.

Sunita Sharma, MD & CEO, LIC Housing Finance, said, “We have seen growth across the country in the individual – mortgage and retail home loan segment...”

Mortgage portfolio grew over 100 per cent to a base of about Rs 7,000 crore from Rs 4,000 crore a year ago. The NBFC plans to focus on this segment to increase the portfolio to about 7-8 per cent by year-end from the current 4.8 per cent of its total book.

The individual loan portfolio stood at Rs 1.07 lakh crore as against Rs 91,058 crore, a growth of 18 per cent. On the other hand, developer loan portfolio stood at Rs 2,708 crore as on June 30, 2015, a 6 per cent increase as against Rs 2,551 crore as on June 30, 2014.

During the quarter, the company disbursed loans of Rs 6,124 crore in Q1FY16 as against Rs 5,560 crore for Q1FY15.

Further, Sharma said that the company’s focus was on recovery and reducing bad assets.

As on June end 2015, total gross NPAs (non-performing assets) on developer loans was Rs 659 crore or 0.60 per cent as on June 30, 2015 down from Rs 753 crore or 0.80% as on June 30, 2014. Gross NPA ratio in individual segment also declined to 0.36 per cent from 0.40 per cent.

Net NPAs also reduced to 0.33 per cent from 0.49 per cent a year ago.

With a growth outlook of 20 per cent in the year ahead, Sharma also plans to increase focus on technology with more e-commerce tie-ups, social media and mobile application

Source : Thehindubusinessline
Read more »

Popular Posts

Desi Google | A2Z Famous Quotes | What's Cooking America | Joke Site