Dewan Housing Finance Corporation Ltd's Q2FY17 standalone net profit rises 28.89% yoy to Rs.232 crore: Beats Estimates

India Infoline Research Team | October 17, 2016 13:04 IST

Dewan Housing Finance Corporation Ltd Q2FY17

Standalone Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
NII 2,167 19.7
Net Profit (adjusted) 232 28.9

DHFL beats top line estimate by 19% and bottom line by 18% yoy in 2QFY17.

The net interest income (NII) increased 19.7% to Rs 536 Cr led by strong loan growth beating estimates of Rs 450 Cr by ~19%.

Interest and finance expenditure grew ~20% yoy along with ~19% yoy rise in employee benefit expenses. This provides room for future operational efficiencies and lower finance cost owing to NCD borrowing cost benefit.

The bottom line grew ~29% yoy to Rs 232 Cr in 2QFY17 beating estimates by ~18%.

The Company declared an Interim Dividend for the financial year 2016-17, of Re. 1/- per share.

Technical View:

Dewan Housing Finance Corporation Ltd is currently trading at Rs. 303, up by 1.95 points or 0.65% from its previous closing of Rs. 301.05 on the BSE.
The scrip opened at Rs. 304.5 and has touched a high and low of Rs. 309.3 and Rs. 295.8 respectively. So far 6212460(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

BSE 601.35 [15.30] ([2.48]%)
NSE 602.05 [14.85] ([2.41]%)

***Note: This is a NSE Chart



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