DHFL fears it may not continue as a going concern; posts Rs 2,223 cr loss in Q4
Housing finance firm DHFL has said the developments in last few quarter 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 ended March 31.
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.
The operating profit was Rs 372 crore for the quarter and Rs 2,378 crore for the whole year.
"However, due to the additional provisioning of Rs 3,280 crore (including net loss on fair value), the company reported a net loss of Rs 2,223 crore for the quarter and net loss of Rs 1,036 crore for the whole year," it said.
It further said that the company is undergoing substantial ...