INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of Dewan Housing Finance Corporation (DHFL) hit lower circuit of 10 per cent in early trade on Monday after the company on
Saturday said the developments in last few quarter threaten its ability to continue as a going concern, as the company posted biggest ever
quarterly loss of Rs 2,224 crore for the fourth quarter ended March 31
DHFL had reported a profit of Rs 134.35 crore in the same quarter previous fiscal.
The scrip dropped 10 per cent to Rs 61.65, while the BSE
and loan growth post September 2018, the financials of the company have been quite strained for the quarter impacting the overall
performance of the year," the company said in a regulatory filing.
The operating profit was Rs 372 crore for the quarter and Rs 2,378 crore
for the whole year.
"However, due to the additional provisioning of Rs 3,280 crore (including net loss on fair value), the company reported
a net loss of Rs 2,223 crore for the quarter and net loss of Rs 1,036 crore for the whole year," it said.
The company is undergoing
substantial financial stress since second half of the last financial year, it said in the BSE filing.
