For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

DHFL Cautions It May Not Sustain As A Going Concern

|

The country's leading housing finance company DHFL on Saturday while reporting its January-March quarter results warned that its financial condition had been so stressful that it may not sustain as a going concern.

DHFL Cautions It May Not Sustain As A Going Concern
 

In a statement to the exchanges, the company said it has missed on interest payments due to investors who held the company's NCDs to be made on July 6 and July 8 worth Rs. 48 crore. Earlier, in June the company stalled repayments twice, first on June 5, wherein it managed to make the repayment of its dues within 7 days, and then it again defaulted on June 25.

The company is currently reeling under a severe liquidity crisis situation that gripped the housing finance major last year.

Currently lenders' to the firm are carving out a resolution plan and a final plan is expected to be out by July 25. Moreover, the company expects to restart its business by August 2019 and grow it over the coming months, said DHFL in a notification to the stock exchange.

For the quarter ended March, the company reported a loss of Rs. 2223 crore. Its gross non-performing asset ratio also increased to 2.74% in comparison to 0.96% for the corresponding period a year ago.

GoodReturns.in

Read more about: dhfl ncd liquidity interest
Story first published: Monday, July 15, 2019, 10:21 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more