PNB Housing Finance Q4 profits rises 57% to Rs 444 crore

PNB Housing Finance on Monday reported a 57 per cent jump in its net profit to Rs 444 crore in the fourth quarter ended March 2024. The housing finance company had posted a net profit of Rs 283 crore in the same quarter a year earlier.

Total income during the quarter rose to Rs 1,806 crore from Rs 1,628 crore in the same quarter of the previous fiscal, PNB Housing Finance said in a regulatory filing.

The lender's interest income in Q4FY24 was higher at Rs 1,684 crore, as against Rs 1,581 crore in the same period a year ago. Net interest income grew 7 per cent to Rs 632 crore at the end of the fourth quarter ended March 2024.

However, the net interest margin declined to 3.65 per cent as compared to 3.74 per cent in Q4 FY23. The gross Non-performing Assets (NPAs) were down 1.5 per cent as compared to 3.83 per cent at the end of March 2023, it said.

Net NPA stood at 0.95 per cent of the loan assets at the end of March 2024. Asset under Management (AUM) grew 7 per cent to Rs 71,243 crore as on March 31, 2024.

For the full fiscal year 2023-24, the housing financier reported a 44 per cent rise in its net profit at Rs 1,508 crore, from Rs 1,046 crore in the previous fiscal year. Total income during the year rose to Rs 7,024 crore from Rs 6,492 crore reported in the previous fiscal.