DHFL shares plummet almost 33% after firm posts biggest-ever quarterly lack of Rs 2,224 cr in March quarter

New Delhi: Shares of DHFL cracked almost 33 % on Monday after the corporate posted the largest ever quarterly lack of Rs 2,224 crore for the fourth quarter ended 31 March.

The scrip plummeted 31.77 % to Rs 46.70 — its 52-week low — on the BSE.

At the NSE, shares plunged 32.62 % to hit a one- 12 months low of Rs 46.15.

Representational picture. Reuters.

Housing finance agency DHFL has stated the developments in previous few quarters threaten its potential to proceed as a going concern, as the corporate posted greatest ever quarterly lack of Rs 2,224 crore for the fourth quarter of 2018-19.

The debt-ridden firm had reported a revenue of Rs 134.35 crore in the identical quarter earlier 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 corporate stated in a late night regulatory submitting on Saturday.

It additional stated the corporate is present process substantial monetary stress because the second half of the final monetary 12 months.

“The company’s ability to raise funds has been substantially impaired and the business has been brought to a standstill with there being minimal/virtually no disbursements. These developments may raise a significant doubt on the ability of the company to continue as a going concern,” it stated.

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