DHFL posts robust Q3 results, stock opens with gap-up

The stock of Dewan Housing Finance Corporation (DHFL) opened with a gap-up of 1.3 per cent on the back of robust Q3 results declared by the company on January 16, 2017.
 
DHFL's net profit in the December quarter jumped to Rs 244.77 crore, posting a growth of 5.2 per cent QoQ and 31.7 per cent YoY., while its revenues at Rs 2365.51 crore were up 9.2 per cent QoQ and 25.5 per cent YoY. The growth in net profit was driven by robust interest income that has offsett the higher taxes.

The company’s net interest income increased 21.7 per cent to Rs 565.4 crore, while its net interest margin improved 3.07 per cent as against 2.87 per cent YoY. The company's loans sanctioned grew 1.6 per cent YoY to Rs 9,459.4 crore and disbursements increased 10 per cent to Rs 7,059 crore. Its Gross NPAs dropped from 0.96 per cent to 0.94 per cent on an absolute basis, while these have increased 4.3 per cent on a sequential basis. 

The stock is likely to remain in positive territory in the coming sessions after it crosses the 292 level on a closing basis.