NBFC engaged in the business of lending housing finance by providing loans for house construction and many more jumped 9 percent in the day’s trade after it declared robust Q2FY24 results with a 67 percent jump in Net Profit.
At 1:15 p.m the shares of India Shelter Finance Corporation Limited were trading at Rs. 564, up 6.16 percent from its previous day’s close price of Rs. 531.25 and its market capitalization is Rs. 6,046 Crores.
India Shelter Finance Corporation Limited has declared its quarter ended September (Q2FY24) results and it is as follows
Its income from interest grew by 42.30 percent YoY from Rs. 118.2 Crores in Q2FY23 to Rs. 168.2 Crores in Q2FY24 and it grew 10.80 percent QoQ from Rs. 151.8 Crores in Q1FY24 to Rs. 168.2 Crores in Q2FY24.
Its Net Profit grew by 67.32 percent YoY from Rs. 35.99 Crores in Q2FY23 to Rs. 60.22 Crores in Q2FY24 and it grew 27.77 percent from Rs. 47.13 Crores in Q1FY24 to Rs. 60.22 Crores in Q2FY24.
India Shelter Finance Corporation Limited is engaged in the business of lending housing finance by providing loans for house construction, extension, renovation, and purchase of new homes or plots. The company also offers loans against property.
India Shelter Finance Corporation Limited was recently listed on the Indian Stock Exchanges on December 20, 2023, at Rs. 620 with a premium of 26 percent from its issue price of Rs. 493 per equity share.
As per the company’s financial statements, its revenue from operations grew 30.48 percent from Rs. 447.98 Crores in FY22 to Rs. 584.53 Crores in FY23, accompanied by increasing profits of Rs. 128.45 Crores to Rs. 155.34 Crores
It has reported a return on equity (ROE) of 13.56 percent and a return on capital employed (ROCE) of 11.26 percent, it is making decent returns on its equity and capital employed.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
