InvestorQ : Why did Indiabulls Housing see such a sharp fall in profits in Jun-20 quarter?
Mitali Bhutta made post

Why did Indiabulls Housing see such a sharp fall in profits in Jun-20 quarter?

Answer
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1 month ago


Indiabulls Housing Finance reported 66% fall in net profits at Rs.273 crore for the Jun-20 quarter. Total revenues of the company fell by 33.7% at Rs.2578 crore during the period. It may be recollected that founder, Sameer Gehlaut, had resigned from the board.

The sharp fall in revenues was a mix of COVID related business issues as well as concerns that the asset quality of the company needs to be rectified. The company had also been drawn into a controversy over its relationship with Yes Bank.