 "Repco Home Finance dips on assets quality concerns")
Repco Home Finance dipped nearly 8% to Rs 672 on the BSE as asset quality of the housing finance company deteriorated during the quarter ended December.
Gross non-performing assets (NPAs) ratio as a percentage of total loans surged to its highest level of 2.65% in December 2016 quarter (Q3FY17) against 2.41% advances in the previous quarter.
Net NPAs rose to 1.51% of advances for the quarter ended December 2016 against 1.3% of the advances in the quarter ended September 2016. Gross NPAs and Net NPAs stood at 2.3% and 1.4%, respectively, at the end of December 2015 quarter.
Net profit of the housing finance company increased by 20% year on year (YoY) at Rs 46.4 crore in Q3FY17 against Rs 38.6 crore in the year ago quarter. Net interest income grew 16% at Rs 90.70 crore on YoY basis. Net interest margin (NIM) declined to 4.2% from 4.5% over the previous year.
In past six trading sessions, the stock was down 12% from Rs 760 on February 6, against 0.4% decline in the benchmark index.
Gross non-performing assets (NPAs) ratio as a percentage of total loans surged to its highest level of 2.65% in December 2016 quarter (Q3FY17) against 2.41% advances in the previous quarter.
Net NPAs rose to 1.51% of advances for the quarter ended December 2016 against 1.3% of the advances in the quarter ended September 2016. Gross NPAs and Net NPAs stood at 2.3% and 1.4%, respectively, at the end of December 2015 quarter.
Net profit of the housing finance company increased by 20% year on year (YoY) at Rs 46.4 crore in Q3FY17 against Rs 38.6 crore in the year ago quarter. Net interest income grew 16% at Rs 90.70 crore on YoY basis. Net interest margin (NIM) declined to 4.2% from 4.5% over the previous year.
In past six trading sessions, the stock was down 12% from Rs 760 on February 6, against 0.4% decline in the benchmark index.
| Quarter | NPAs in % | |
| ended | Gross | Net |
| Q3FY14 | 2.0 | 1.3 |
| Q4FY14 | 1.5 | 0.7 |
| Q1FY15 | 2.5 | 1.6 |
| Q2FY15 | 1.7 | 0.8 |
| Q3FY15 | 2.0 | 1.2 |
| Q4FY15 | 1.3 | 0.5 |
| Q1FY16 | 2.2 | 1.3 |
| Q2FY16 | 1.8 | 0.9 |
| Q3FY16 | 2.3 | 1.4 |
| Q4FY16 | 1.3 | 0.5 |
| Q1FY17 | 2.2 | 1.2 |
| Q2FY17 | 2.4 | 1.3 |
| Q3FY17 | 2.6 | 1.5 |
| Source : Company | ||
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