DHFL shares plummet nearly 33% after company posts biggest-ever quarterly loss of Rs 2,224 cr in March quarter

Shares of DHFL cracked nearly 33 percent on Monday after the company posted the biggest ever quarterly loss of Rs 2,224 crore for the fourth quarter ended 31 March

Press Trust of India July 15, 2019 12:43:56 IST
DHFL shares plummet nearly 33% after company posts biggest-ever quarterly loss of Rs 2,224 cr in March quarter
  • Housing finance firm DHFL has said the developments in last few quarters threaten its ability to continue as a going concern

  • The company posted biggest ever quarterly loss of Rs 2,224 crore for the fourth quarter of 2018-19

  • DHFL shares plummeted 31.77 percent to Rs 46.70 -- its 52-week low -- on the BSE

New Delhi: Shares of DHFL cracked nearly 33 percent on Monday after the company posted the biggest ever quarterly loss of Rs 2,224 crore for the fourth quarter ended 31 March.

The scrip plummeted 31.77 percent to Rs 46.70 -- its 52-week low -- on the BSE.

At the NSE, shares plunged 32.62 percent to hit a one- year low of Rs 46.15.

DHFL shares plummet nearly 33 after company posts biggestever quarterly loss of Rs 2224 cr in March quarter

Representational image. Reuters.

Housing finance firm DHFL has said the developments in last few quarters threaten its ability to continue as a going concern, as the company posted biggest ever quarterly loss of Rs 2,224 crore for the fourth quarter of 2018-19.

The debt-ridden company had reported a profit of Rs 134.35 crore in the same quarter previous fiscal.

"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," the company said in a late evening regulatory filing on Saturday.

It further said the company is undergoing substantial financial stress since the second half of the last financial year.

"The company's ability to raise funds has been substantially impaired and the business has been brought to a standstill with there being minimal/virtually no disbursements. These developments may raise a significant doubt on the ability of the company to continue as a going concern," it said.

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