Aptus Value Housing Finance reports Q2 profits at Rs 181.96 crore on stable asset quality

Housing finance company Aptus Value Housing Finance India Ltd on Tuesday reported profits for the July-September 2024 period at Rs 181.96 crore supported by business growth and stable asset quality, the company said on Tuesday.

The city-based company had registered profits of Rs 148.01 crore during the corresponding period of last year. For the half-year period ending September 30, 2024, the profits went up to Rs 353.71 crore, from Rs 290.27 crore registered in the year ago period.

The total income during the quarter under review went up to Rs 435.54 crore, from Rs 345.66 crore registered during the corresponding period of last year. For the six month period ending September 30, 2024, the total income surged to Rs 840.17 crore, from Rs 661.03 crore registered in the year ago period.

Commenting on the financial performance, company managing director P Balaji said, "we are happy to share that Aptus achieved strong results for the second quarter of FY25.

The company posted a 22 per cent year-on-year increase in net profit at Rs 182 crore in the second quarter of FY25 supported by business growth, stable asset quality and continuous focus on higher productivity."

"We sustained consistent growth and achieved an Assets Under Management (AUM) growth of 27 per cent year-on-year supported by an addition of 24 branches," he said.

"We will remain a productivity-focused organisation and will continue to achieve the lowest cost-to-asset and cost-to-income ratios in the affordable housing finance sector," Balaji said.