PNB Housing Finance reports 12.6 per cent sequential rise in PAT

Nidhi Jani / 25 Oct 2017

PNB Housing Finance reports 12.6 per cent sequential rise in PAT

The company’s net interest income (NII) for the quarter grew by 9.2% QoQ to Rs. 479.7 crore as against Rs. 439.2 crore in Q1FY18.

PNB Housing Finance reported good results for the quarter ended September 30, 2017, on Wednesday. The company’s net interest income (NII) for the quarter grew by 9.2% QoQ to Rs. 479.7 crore as against Rs. 439.2 crore in Q1FY18. The Deposit portfolio grew by 33% to Rs. 10,405 crore as on September 30, 2017 from Rs. 7,831 crore as on September 30, 2016.

Loan Outstanding grew by a healthy rate of 51% YoY to Rs. 48,749 crore as on September 30, 2017 of which Housing Loans consists 70.6% and Non-Housing is 29.4%. Gross Non-Performing Assets (NPA) stood at 0.34% of the Loan Assets as on September 30, 2017 as against 0.26% as on September 30, 2016. The company reported net profit of Rs. 208 crore, which represents a sequential QoQ increase of 12.6 per cent and a YoY increase of 51 per cent.

PNB Housing Finance Ltd is a housing finance company that provides housing loans to individuals and corporate bodies for construction, purchase, and repair and up gradation of houses. The company also offers construction finance to the real estate developers.

On Wednesday, the stock opened at Rs. 1,441 per share and touched an intra-day high and low of Rs. 1,463 and Rs. 1,347.6, respectively, on the BSE.

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