PNB Housing Finance Q2 net profit rises 51%

PNB Housing Finance Q2 net profit rises 51%

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PNB Housing Finance Limited

The Board of Directors of PNB Housing Finance Limited approved the un-audited standalone Financial Results for the quarter and half-year ended 30th Sept 2017.

Financial performance (Q2 FY17-18 vs Q2 FY16-17)

Net Interest Income registered a growth of 69% to Rs. 386 crore from Rs. 228 crore.

Profit after Tax increased by 51% to Rs. 208 crore from Rs. 138 crore.

The spread on average loan assets is 2.42% and Net Interest Margin on the average interest earning assets is 3.15%.

The Deposit portfolio grew by 33% to Rs. 10,405 crore as on 30th Sept 2017 from Rs. 7,831 crore as on 30th Sept 2016.

Gross Non-Performing Assets (NPA) stood at 0.34% of the Loan Assets as on 30th Sept 2017 against 0.26% as on 30th Sept 2016.

Net NPA stood at 0.26% of the Loan Assets as on 30th Sept 2017.

Sanjaya Gupta, Managing Director said:“We witnessed a double digit growth in Q2 and H1 FY17-18 on the back of geographic expansion and efficient borrowings. During the quarter, we achieved a landmark of Rs. 50,000 crore AUM. We look forward to continue our growth journey with focus on network expansion, improvement in costs, maintain robust asset quality and an efficient borrowing mix.”