Date:28/07/2004 URL: http://www.thehindubusinessline.com/2004/07/28/stories/2004072802230800.htm

Back Dewan Housing Q1 net up 23 pc

Our Bureau

Mumbai , July 27

DEWAN Housing Finance Corporation Limited has announced an increase of 23 per cent in net profit, year-on-year, for the quarter ended June 30, 2004. Net profit increased to Rs 5.61 crore (Rs 4.56 crore). Income from operations rose to Rs 35.28 crore (Rs 32.88 crore).

Gross profit amounted to Rs 7.5 crore (Rs 5.92 crore), while profit before tax showed a 27-per cent increase, to Rs 7.29 crore (Rs 5.74 crore).

Loan disbursements for the quarter ended June 2004 stood at Rs 138.65 crore, 49.3 per cent higher than the year-ago figure of Rs 92.89 crore.

The housing portfolio of the company grew 23.8 per cent over the same period, to Rs 1,281 crore (Rs 1,035 crore).