Repco Home Finance Q2 profit up by 19 per cent

Repco Home Finance provides loans for purchase or construction of residential house, net profit rose 19.35 per cent to Rs 39.05 crore on 27.43 per cent rise in net total income from operations to Rs 215.64 crore in second quarter of the current year compared with the corresponding quarter previously.

Repco Home Finance said loans sanctioned rose 46.12 per cent to Rs 1,519.6 crore during the half year ended September 30, 2015 compared with the corresponding period of the previous year.

Total borrowings of the company stood at Rs 5,854.03 crore as at September 30, 2015 as against Rs 4,387.25 crore as at September 30, 2014.

On absolute basis, the company's gross non-performing assets (NPAs) stood at Rs 123.58 crore as on September 30 2015, compared with Rs 86.20 crore the corresponding period of the previous year.

The ratio of gross NPAs to gross advances stood at 1.80 per cent as on September 30, 2015 as against 1.65 per cent as on September 30, 2014. The ratio of net NPAs to net advances stood at 0.92 per cent as on September 30, 2015 as against 0.81 per cent as on September 30, 2014.

Repco Home Finance’s target customer segment comprises of self employed professionals and self employed non-professionals. Loans to salaried and non-salaried borrowers constitute 43 per cent and 57 per cent of loan book.

The housing finance company, which was promoted by Repco Bank in 2000, taps customers in tier-II and tier -III cities and peripheries of tier-1 cities. It has 142 branches and satellite centres, with more than 80 per cent located in southern India.

Currently, the stock was marginally lower 0.66 per cent to Rs 701.40 on the BSE.