HUDCO Shares Fall Over 8% On Default In Repayment Dues

Shares of Housing and Urban Development Corporation (HUDCO) in intra-day trade on Thursday fell over 8.5% to hit day's low of Rs. 36.90 per share on the BSE. The fall comes after the company defaulted in repayment of some dues.

HUDCO Shares Fall Over 8% On Default In Repayment Dues

In an exchange filing, the company said that two of its borrowing agencies defaulted in the repayment of their dues. And as on the filing date, the default amount stands at Rs 87.46 crore against a principal outstanding of Rs 869.4 crore. It further said that these agencies have been termed as non-performing assets with "an impact of 1.14 percent on Gross NPA".

In Q2FY20, gross NPAs stood at 4.2% at Rs. 3196.2 crore.

In the quarter ended September, net profit increased 2.16 times to Rs 725.84 crore in comparison to Rs 335.68 crore in Q1FY20.

The stock of HUDCO was last quoting at Rs. 37.90, down 6.19% on the BSE.

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