Shares of Indiabulls Housing heave 8% post September quarter earnings

The Indiabulls housing share touched high at Rs 376.80 in its 52-week and 52-week low Rs 81.25 on 29 November 2019 and 20 March 2020, respectively.

The company reported a nearly 54 percent decline in its consolidated net profit to Rs 323.20 crore for the second quarter ended September 30. It had posted a net profit of Rs 702.18 crore in the corresponding quarter of the previous financial year. Sequentially, the company’s net profit was higher by 18.5 percent, from Rs 272.84 crore in the preceding quarter ended June. Its total income fell 25.9 percent to Rs 2,581 crore during July-September 2020 as compared with Rs 3,481.40 crore in the year-ago period.


The company’s net profit in the September 2020 quarter declined 53.85 percent to Rs 235.37 crore on a standalone basis against Rs 510.09 crore a year ago. Its total income fell to Rs 2,233.07 crore, from Rs 2,988.07 crore a year ago The Housing Finance company was quoting at Rs 171.20, up to Rs 11.75, or 7.37 percent on the BSE. Currently, it is trading 54.56 percent below its 52-week high and 110.71 percent above its 52-week low.