Dewan Housing Finance Q4 net dips 28%; shares tank 12%

Mortgage lender Dewan Housing Finance today reported 28 per cent decline in net profit at Rs 141.17 crore for the fourth quarter ended March 31.

The company's net profit was Rs 196.93 crore in the January-March quarter of the previous fiscal, 2012-13.

Shares of the company tanked 12 per cent to day's low of Rs 217.10 apiece on the BSE. Later, the scrip recovered some ground and closed at Rs 226.50, down 8 per cent.

The company's total Q4, 2013-14 income dropped to Rs 1,417 crore, from Rs 1,716 crore in the year-ago period.

On annual basis, however, its net profit was up 17 per cent to Rs 529 crore in 2013-14. It was Rs 451 crore in the previous fiscal.

Total income went up to Rs 4,970 crore during last fiscal, from Rs 4,079 crore in 2012-13.

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