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PNB Housing Finance Net Profit Falls 5% To Rs 243 Crore In June Quarter

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PNB Housing Finance Net Profit Falls 5% To Rs 243 Crore In June Quarter

Shares of PNB Housing Finance settled five per cent higher at Rs 720.45 apiece on the BSE.

PNB Housing Finance announced its Apri;-June quarter results for the financial year 2021-22, reporting a net profit of Rs 243 crore on a consolidated basis, compared to Rs 257 crore in the corresponding period last year. The company’s net profit declined five per cent year-on-year, however, on a sequential basis, the profit surged 91 per cent compared to Rs 127 crore reported in the preceding January-March quarter of fiscal 2020-21.

The country’s leading mortgage lender’s total revenue from operations in the first quarter of the current fiscal stood at Rs 1,691.81 crore, compared to Rs 1,870.06 crore in the corresponding quarter last year. The total income in the June quarter stood at Rs 1,692.88 crore, compared to Rs 1,872.33 crore in the year-ago period, according to a regulatory filing by the lender to the stock exchanges today.

The net interest income (NII) in the June quarter stood at Rs 550 crore, compared to Rs 488 crore, registering a growth of 13 per cent year-on-year. The company’s operating expenditure stood at Rs 115 crore, compared to Rs 102 crore, registering an increase of 11 per cent year-on-year.

The pre-provision operating profit stood at Rs 475 crore, compared to Rs 405 crore, marking a growth of 17 per cent year-on-year.

The lender’s gross non-performing assets (NPA) at an AUM (asset under management) level was at 5.5 per cent while it is six per cent at loan assets as on June 30, 2021. The lender’s net NPA stood at 3.6 per cent of the loaan assets by June 30, 2021, according to its statement.

On Wednesday, August 4, shares of PNB Housing Finance settled five per cent higher at Rs 720.45 apiece on the BSE.

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