Aptus Value Housing net profit rises 52% to Rs 242 crore in H1 FY23

Aptus Value Housing Finance India on Tuesday reported a 52 per cent jump in its net profit at Rs 242 crore for the first half ended September 2022 of the current fiscal.

The company had posted a net profit of Rs 159 crore in the April-September period of the previous financial year.

Total disbursements during H1 FY2022-23 jumped by 69 per cent to Rs 1,129 crore as against Rs 668 crore in the same period of 2021-22, Aptus Value Housing Finance said in a release.

The assets under management grew by 33 per cent to Rs 5,932 crore at end of September 2022, from Rs 4,480 crore a year ago.

On the assets front, the gross non-performing assets (NPAs/bad loans) were higher at 1.47 per cent against 0.81 per cent, up by 66 basis points.

The company said the increase in gross NPAs was due to regulatory requirement by RBI as per its November 2021 circular.

The net interest margin (NIM) stood at 14.32 per cent, Aptus said. Return on assets (ROA) was at 8.71 per cent and return on equity (ROE) stood at 15.83 per cent.

The company mainly caters to low-value housing finance focussing on the southern region of the country.

M Anandan, chairman and managing director, Aptus Value Housing Finance India, said, "We have built a strong branch network of 213 branches to deliver quality service to our customers. The company is well capitalised with a net worth of Rs 3,175 crore."

He said as on September 30, 2022, Aptus has maintained sufficient liquidity of over Rs 1,000 crore without including undrawn sanctions of Rs 500 crore from the National Housing Bank.