Indiabulls Housing Finance net profit declined by 8%

Indiabulls Housing Finance reported a loss of 8% in its third-quarter result. Slower loan growth is said to be the reason behind the decline in profit. The company managed to earn ₹303 crore as net profit in the third quarter, ₹26 crore less than what it earned in the same quarter of the previous fiscal year. loan providing company lent out ₹2800 crore in the third quarter. "There was an 8 percent dip in our profitability as our loan book has come down by 13-14 percent. As we shrink in size the profitability is expected to diminish," its deputy managing director Ashwini Kumar Hooda said. Post result declaration its shares closed at ₹206.70 per share with a gain of 4.68 % on the Bombay Stock Exchange