Indiabulls Housing Finance drops after lower Sept-quarter profit

Sammaan Capital

12/11/2021 05:03

** Housing finance co's shares  INBF.NS  fall as much as
4.6% to 226 rupees, post biggest intraday pct drop since Oct. 28
   ** Co on Thursday reported ~11.5% fall in Sept-qtr
consolidated net profit to 2.86 bln rupees ($38.43 mln) from
3.23 bln rupees a year ago
    ** Co's interest income down to 21.96 bln rupees from 24.64
bln rupees 
    ** Co approved issuance of non-convertible debentures,
redeemable for up to 50 bln rupees
    ** Co said in a statement https://www.bseindia.com/xml-data/corpfiling/AttachLive/8cffc9de-27a3-44ad-8219-d4a4a8e2b365.pdf
 its quarterly earnings have stabilised and are "showing trend
of growth"
    ** With co-lending partnerships in place, retail disbursal
growth has gained momentum in FY22 - co
    ** About 6.5 mln shares traded, 0.4x the 30-day average
    ** INBF stock up about 7.5% this year, as of last close  
    


($1 = 74.4300 Indian rupees)

 (Reporting by Vishwadha Chander in Bengaluru)
 ((Vishwadha.Chander@thomsonreuters.com))