{"id":972,"date":"2019-10-17T17:43:32","date_gmt":"2019-10-17T17:43:32","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2019\/10\/17\/dhfl-reports-q2-net-loss-of-rs-242-crore\/"},"modified":"2019-10-17T17:43:32","modified_gmt":"2019-10-17T17:43:32","slug":"dhfl-reports-q2-net-loss-of-rs-242-crore","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2019\/10\/17\/dhfl-reports-q2-net-loss-of-rs-242-crore\/","title":{"rendered":"DHFL reports Q2 net loss of Rs 242 crore"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-image\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-1738854\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2019\/10\/1-582.jpg\" alt=\"DHFL said the company is undergoing substantial financial stress since the second half of the previous financial year.\" width=\"660\" height=\"440\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2019\/10\/1-582.jpg 660w, https:\/\/images.financialexpress.com\/2019\/10\/1-582-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/10\/1-582-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/10\/1-582-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><noscript><img decoding=\"async\" class=\"size-full wp-image-1738854\" src=\"https:\/\/images.financialexpress.com\/2019\/10\/1-582.jpg\" alt=\"DHFL said the company is undergoing substantial financial stress since the second half of the previous financial year.\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2019\/10\/1-582.jpg 660w, https:\/\/images.financialexpress.com\/2019\/10\/1-582-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/10\/1-582-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/10\/1-582-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><\/noscript><span class=\"article-caption\">DHFL said the company is undergoing substantial financial stress since the second half of the previous financial year.<\/span><\/figure>\n<\/div>\n<p>Debt-ridden housing finance firm DHFL on Thursday reported a consolidated net loss of Rs 242.48 crore for the second quarter of the current fiscal. The company had posted a net profit of Rs 431.71 crore in the corresponding July-September period of 2018-19. DHFL said the losses registered in Q2 of this fiscal were fully attributable to owners of the parent (company).<\/p>\n<p>Total income of the company fell to Rs 2,399.84 crore during the three months to September, as against Rs 3,154.25 crore in the year-ago period, it said in a regulatory filing.<\/p>\n<p>DHFL said the company is undergoing substantial financial stress since the second half of the previous financial year. The company has suffered consistent downgrades in its credit ratings since February 2019.<\/p>\n<p>\u201cOn 5th June 2019, the credit rating was reduced to default grade despite there being no default till that date. As a result, the company\u2019s ability to raise funds has been substantially impaired and the business has been brought to a standstill with there being minimal\/virtually no disbursements,\u201d the company said.<\/p>\n<p>Further, the company has reached out to lenders for timely intervention and to restore the ability to carry on its business and they responded by agreeing to work on a plan under the <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/tag\/rbi\/\" rel=\"noopener noreferrer\">RBI<\/a> guidelines on resolution of distressed assets. \u201cAbility of the company to continue as a going concern may be assessed in the back drop of these developments,\u201d it added.<\/p>\n<p>Based thereon, an indicative debt resolution plan has been submitted by the company which identifies liabilities of DHFL aggregating to Rs 48,826 crore, constituting 58 per cent of the total debt of DHFL, as sustainable debt, it added.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from BSE and NSE and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\" https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\" https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] DHFL said the company is undergoing substantial financial stress since the second half of the previous financial year. Debt-ridden housing finance firm DHFL on Thursday reported a consolidated net loss of Rs 242.48 crore for the second quarter of the current fiscal. The company had posted a net profit of Rs 431.71 crore in [&hellip;]<\/p>\n","protected":false},"author":348,"featured_media":973,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/972","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=972"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/972\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/973"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}