iStock photoMortgage lender DHFL on Thursday reported a consolidated loss of Rs 242.48 crore for the second quarter ended September 30. The housing finance firm had reported a loss of Rs 2,456 crore in the preceding three months, while it posted a profit of Rs 431.71 crore a year ago. During the quarter, the total income of the company fell to Rs 2,399.84 crore againstRs 3,154.25 crore in the same period last year. In its notes to accounts, DHFL said it has been undergoing substantial financial stress since the second half of the previous financial year. DHFL further disclosed that it has entered into term sheets with foreign institutional investors who are willing to provide working capital to projects for which loans were discontinued.

Source: The Telegraph October 17, 2019 20:48 UTC