PNB Housing Finance Q4 results: PNB Housing Finance, a leading housing finance company, has reported a jump in profit after tax (PAT) by nearly 65 per cent year-on-year (YoY) as it stood at Rs 279.3 crore for the quarter ending March 31, 2023. In the corresponding quarter last year, the company had posted a net profit of Rs 170 crore.

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The net interest income (NII), measured by the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, also witnesses a considerable rise as it increased by 27 per cent year-on-year to Rs 627.7 crore, up from Rs 494.7 crore in the corresponding period in the previous year.

There has been considerable growth in the credit sector and the non-performing asset has gone down too.

Retail Loan Assets of the company, comprising of 93.6 per cent of Loan Asset grew by 10 per cent YoY to Rs 55,471 crore as on March 31, 2023. Loan Asset is at Rs 59,273 crore as on 31st March 2023, as compared to Rs 58,034 crore as in the quarter ending in December 2022. The disbursements during FY23 grew by 33 per cent YoY to Rs 14,965 crore — for Q4 FY23 the figure stood at Rs 4,495 crore, registering an increase of 22 per cent YoY and 31 per cent QoQ.

Gross NPA declined by 430 bps to 3.83 per cent  as on 31st Mar 2023 as compared to 8.13 per cent  as on March 31, 2023, and retail GNPA also declined by 133 bps to 2.57 per cent as on 31st March 2023 as compared to 3.89 per cent  as on 31st March 2022

“We are pleased to report that this fiscal year has been incredibly eventful for us. After 13 quarters, we have achieved the highest retail disbursement and loan assets as an outcome of our ongoing efforts to build the retail business. We have also witnessed a remarkable improvement in the asset quality which reduced by 52 per cent  year-on-year. As another milestone we have successfully concluded our rights issue, which received an overwhelming response resulting in a 1.21x subscription. This demonstrates the investors' confidence in the Company. The infusion of capital will enable us to capitalise on the available growth opportunities,” Girish Kousgi, Managing Director & CEO of PNB Housing Finance, said.

 

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