New Delhi / DHFL shares decline over 1% as co defers release of financial results

Free Press Journal : Nov 25, 2019, 06:04 PM

New Delhi: DHFL shares fell over 1 per cent on Monday after the company said it will not be able to declare financial results on the scheduled date.

The scrip, which tanked 4.95 per cent to Rs 21.10 on the BSE during the day, recovered some of the losses and closed at Rs 22.05, down 0.68 per cent.

At the NSE, it fell 1.12 per cent to close at Rs 21.95.

In terms of traded volume, 13.74 lakh shares of the company were traded on the BSE during the day, while over 1 crore shares were traded on the NSE.

The crippled mortgage lender, whose management has been taken over by RBI, on Friday informed stock exchanges that it will not be able to declare financial results on the scheduled date as the new administrator needs to have detailed discussions with the statutory auditors.

DHFL (Dewan Housing Finance Corporation Ltd) was scheduled to announce its financial results on November 25 (Monday).

"The administrator needs to have detailed discussions with the statutory auditors of the company for the purpose of finalisation of the financial results," DHFL said in a regulatory filing.

"Please note that considering the above factors, as directed by the administrator, the aforesaid scheduled date of declaration of the financial results i.e. November 25, 2019 is hereby postponed and the Board Meeting scheduled for such approval has also been deferred," it said.

The revised date will be intimated in due course, it added.

As of July 2019, the home financier owed Rs 83,873 crore to banks, the National Housing Board, mutual funds and bondholders, including retail bondholders.

Of this, secured debt is Rs 74,054 crore and Rs 9,818 crore is unsecured.