Reliance Home Finance Q3 profit up 38% at Rs 55 cr, stock down 6%

Shares of the company were trading at Rs 24.70

Reliance Home Finance, the housing finance arm of Reliance Capital, reported a net profit of Rs 55 crore in the quarter ended December 2018. 

Profits were up 37.5 per cent in the third quarter of 2018-19 over the same period last fiscal.

In Q3 of FY 19, the total income of the company stood at Rs 516 crore, up 21.69 per cent, compared to Rs 424 crore in the same period last year. The company's assets under management grew 24 per cent to Rs 18, 288 crore.

Gross non-performing assets of the company stood at 0.9 per cent till the end of December 2018. Capital adequacy ratio of the housing finance company was at 18.8 per cent with tier 1 capital at 12.7 per cent.

Shares of the company dipped 6 per cent, trading at Rs 24.70 at 12:48 pm IST on the Bombay Stock Exchange.