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Debt-ridden DHFL reported a net loss of Rs 6,640.62 crore

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DHFL

It had posted consolidated net profit of Rs 439.51 crore in the year-ago period, Dewan Housing Finance Corporation (DHFL) said in a filing to BSE.

Debt-ridden housing finance firm DHFL on Thursday has reported a consolidated net loss of Rs 6,640.62 crore for the quarter ended September 30, 2019.

It had posted consolidated net profit of Rs 439.51 crore in the year-ago period, Dewan Housing Finance Corporation (DHFL) said in a filing to BSE.

The company said that the net loss/profit after tax was “fully attributable to the owners of the parent”.

The consolidated total revenue from operations of DHFL in July-September period dropped to Rs 2,106.71 crore over Rs 3,483.32 crore in the year-ago period.

Pursuant to an order dated December 3, 2019 of the National Company Law Tribunal, Mumbai Bench, Corporate Insolvency Resolution Process has been initiated against the company as per the provisions of the Insolvency and Bankruptcy Code, 2016.

The shares of Dewan Housing Finance Corporation were trading at Rs 16.20 a piece on BSE in morning trade, down 0.92 per cent from the previous close. 

Source: PTI

(Note: The story has been published without modifications to the text. Only the headline and intro have been changed.)

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