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Dewan Housing share price rises 5% on Rs 70-crore profit in Q1

BusinessToday.In     August 24, 2020

Dewan Housing Finance share price climbed 5% in early trade today after the firm reported a profit of Rs 70.10 crore in Q1 against a loss of Rs 215.47 crore in the corresponding quarter of previous fiscal. Share price of Dewan Housing gained nearly 5% to Rs 15.74 against previous close of Rs 15 on BSE.

Dewan Housing stock trades higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. However, the share has lost 63% in one year and fallen 10% since the beginning of this year.

Total 1.20 lakh shares of the firm changed hands amounting to turnover of Rs 18.22 lakh on BSE.

Market cap of the firm stood at Rs 471 crore.

In Q1, consolidated income fell 3% to Rs 2,328.86 crore against Rs 2,399.87 crore income in the corresponding quarter of previous fiscal. Total expenses rose to Rs 2178 crore in Q1 against Rs 442 crore in Q1 of previous fiscal.

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Earnings per share in Q1 rose to Rs 2.23 against Rs -6.58  in corresponding period of previous fiscal.

Reserve Bank of India (RBI) had superseded the board of directors on November 20, 2019 and appointed R. Subramaniakumar as the administrator of the company.

Dewan Housing Finance Corporation Limited is a deposit-taking housing finance company. The company focuses on providing financing products to the lower and middle-income segments in India, primarily in Tier II and Tier III cities, and towns. 

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