25.1 C

PNB Housing Finance’s Q2 net profit rises 12% on improving margins

Must read


PNB Housing Finance’s net profit rose by 12 per cent year-on-year (YoY) to Rs 263 crore in second quarter ended September 2022 (Q2Fy23) on the back of improved net interest income and margins.

The stock jumped 4.59 per cent to settle at Rs 451.10 on the . During the day, it rallied 6.64 per cent to Rs 459.95. It had book net profit of Rs 235 crore in Quarter ended September 2021 (Q2FY22) as well as in quarter ended June 2022 (Q1FY23).

Its net interest income (NII) expanded by 29 per cent YoY to Rs 649 crore in the reporting quarter. Net Interest Margin (NOM) stood at 4.14 per cent in Q2 FY23, up from 3.01 per cent in Q2 FY22 and 2.36 per cent in June 2022 (Q1 FY23), HFC said in a statement.

The amount of impairment on financial instruments & write-offs rose to Rs 243 crore in Q2FY23 from Rs 142 crore in Q2FY22.

Dwelling on business, the mortgage lender said it disbursed worth Rs 3,594 crore in Q2FY23, up from Rs 2,961 crore in Q2FY22. The disbursements were predominantly in the retail segment.

Its outstanding book shrunk to Rs 57,832 crore as on September 2022 as compared to Rs 60,342 crore as at end of September 2021. It, however, expanded sequentially from Rs 57,287 crore at the end of June 2022.

Its capital adequacy was 24.1 per cent in September 2022, up from 20.7 per cent a year ago.


Source link

- Advertisement -spot_img

More articles


Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article