Reliance Home Finance’s net loss almost doubles to Rs 445 cr in Q4FY21
New Delhi: Reliance Home Finance’s net loss nearly doubled to Rs 445 crore in the fourth quarter of the last fiscal as compared net loss Rs 238 crore in the same quarter of the previous fiscal year.
The company is undergoing a debt resolution process. The total income dropped 42 percent to Rs 162 crore in the fourth quarter of the last fiscal as compared to Rs 281 crore in the year-ago period, the company said in a regulatory filing.
For the whole of last fiscal, the company's net loss jumped multifold to Rs 1,520 crore as compared Rs 375 crore in 2019-20. The total income in the last fiscal nearly halved to Rs 840 crore as compared to Rs 1603 crore.
"The company post-finalisation and implementation of the final debt resolution plan will increase the housing loan portfolio and is confident of achieving the same in due course," the company said.