Mumbai: Mortgage lender Indiabulls Housing Finance Ltd on Monday reported a 23% growth in its net profit to Rs.630 crore in the quarter ended June, helped by healthy loan growth. The company sold Rs.1,114 crore of loans in the first quarter, against Rs.522 crore in the year-ago period. The company had reported Rs.511 crore profit after tax in the same quarter last year. “The profit was driven by a 31% loan growth, of which home loan grew by 38%,” company’s deputy managing director Ashwini Hooda told PTI. Net interest income of the company was up 28% to Rs.1,053 crore from Rs.821 crore.

Source: Mint July 25, 2016 12:33 UTC