+
GIC Housing Finance's net profit dips 18.71%
Real Estate

GIC Housing Finance's net profit dips 18.71%

In the three months that ended on June 30, 2023, GIC Housing Finance's net consolidated profit decreased by 18.71%. According to a BSE statement by the company, its profit after tax decreased from Rs 39.17 crore in the first quarter of the previous fiscal to Rs 31.84 crore in the first fiscal year 24.

A decrease of 1.92 percent from the Rs 276.35 crore it reported in the same quarter previous year, the company's net consolidated total income for the first fiscal quarter of FY24 was Rs 271.05 crore.

The company had a net value of Rs 1,730.67 crore as of June 30, 2023, a debt-to-equity ratio of 5.21, a total debt to total asset ratio of 83.25%, and a net profit margin of 11.75%.

The board of directors approved raising money through the issuance of bonds or redeemable non-convertible debentures (NCDs) up to a total limit of Rs 2,500 crore through private placement.

In the three months that ended on June 30, 2023, GIC Housing Finance's net consolidated profit decreased by 18.71%. According to a BSE statement by the company, its profit after tax decreased from Rs 39.17 crore in the first quarter of the previous fiscal to Rs 31.84 crore in the first fiscal year 24. A decrease of 1.92 percent from the Rs 276.35 crore it reported in the same quarter previous year, the company's net consolidated total income for the first fiscal quarter of FY24 was Rs 271.05 crore. The company had a net value of Rs 1,730.67 crore as of June 30, 2023, a debt-to-equity ratio of 5.21, a total debt to total asset ratio of 83.25%, and a net profit margin of 11.75%. The board of directors approved raising money through the issuance of bonds or redeemable non-convertible debentures (NCDs) up to a total limit of Rs 2,500 crore through private placement.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code