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DHFL defers Q4 results, shares down over 5%

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Dewan Housing Finance Corporation (DHFL) on Friday deferred the release of its fourth-quarter results which were scheduled to be announced on June 29, according to media reports.

The non-banking finance company has been facing liquidity crisis and has recently defaulted on its repayment obligations. The scrip was trading 5.32 per cent down at Rs 77.15 at around 9.38 am, while benchmark BSE Sensex was down 11 points down at 39,574 at around the same time.

Earlier, the company on Wednesday said that it will shortly divest its full stakes in subsidiary firms DHFL Pramerica Asset Managers and DHFL Pramerica Trustees. The company has resorted to various modes of fund mop-up including selling stake in subsidiary firms to meet its debt obligations. DHFL on Tuesday also defaulted on 60 per cent of principal repayment on its commercial papers worth Rs 375 crore. It had said that it defaulted on principal repayment on Commercial Papers (CPs) worth Rs 225 crore, while the payment on rest of Rs 150 crore was done. DHFL also said the balance of Rs 225 crore will be paid once the surplus cash flow position improves over the next couple of days.




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