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DHFL slumps after RBI starts resolution process
02-Dec-19 15:48Hrs IST

On Friday, 29 November 2019, RBI filed an application for initiation of corporate insolvency resolution process against DHFL under Section 227 of the Insolvency and Bankruptcy Code, 2016. DHFL will be the first NBFC to go through National Company Law Tribunal (NCLT) debt resolution.

The DHFL stock has tanked 58.61% in the past three months as it continue to default in various payment obligations.

On consolidated basis, DHFL reported a net loss of Rs 242.48 crore in Q1 June 2019 as against a net profit of Rs 431.71 in Q1 June 2018. Net sales dropped 24.1% to Rs 2399.84 crore on YoY basis.

Meanwhile, the S&P BSE Sensex closed 0.02% higher at 40,802.17.

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