DHFL shares plummet nearly 33% after Q4 loss

"In the backdrop of a significant slowdown in disbursement 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," Kapil Wadhawan, Chairman and Managing Director, DHFL said in a statement.

Mumbai: Dewan Housing Finance Limited on Monday came under heavy selling pressure after the company reported the biggest ever quarterly loss of Rs 2,223 crore for the fourth quarter (Q4) of 2018-19 over the weekend.

At the NSE, shares plunged 32.62 percent to hit a one- year low of Rs 46.15. The debt-ridden company had reported a profit of Rs 134.35 crore in the same quarter previous fiscal.

Kapil Wadhawan, Chairman and Managing Director, DHFL

"In the backdrop of a significant slowdown in disbursement 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," Kapil Wadhawan, Chairman and Managing Director, DHFL said in a statement.

The housing lender's gross NPA (non-performing asset) as on March 31, 2019, rose to 2.74 percent as against 0.96 percent during the period of the previous fiscal.

Besides, the DHFL on Saturday said it had defaulted on interest payments to the tune of Rs 48 crore on non-convertible debentures (NCDs), that was due on July 6 and 8. These developments may raise a significant doubt on the ability of the company to continue as a going concern.