DHFL stock dips 5%; defers release of financial results

"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. (Photo by Reuters)

DHFL shares tumbled up to 5 per cent on Monday after the company said it will not be able to declare financial results on the scheduled date.

The scrip tanked 4.95 per cent to Rs 21.10 on the BSE.

At the NSE, it declined by 4.95 per cent to Rs 21.10.

Crippled mortgage lender DHFL, whose management has been taken over by the 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.

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