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PNB Housing Fin sees 10% fall in Q1 net profit to Rs 257 cr amid Covid-19

The company's net interest income also slipped 22 per cent to Rs 487.8 crore during April-June, as against Rs 625.5 crore in year-ago period

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Total borrowings stood at Rs 67,283 crore as on June 30, 2020 compared to Rs 72,261 crore a year ago, registering a decline of 7 per cent during the period

Press Trust of India New Delhi

2 min read Last Updated : Jul 23 2020 | 4:50 PM IST

PNB Housing Finance on Thursday reported 10 per cent decline in consolidated net profit to Rs 257.2 crore in the first quarter ended June 30, mainly due to lower disbursement amid Covid-19 pandemic.

The housing financier, promoted by Punjab National Bank, had reported net profit of Rs 284.5 crore in June quarter of 2019-20.

The company's net interest income also slipped 22 per cent to Rs 487.8 crore during April-June, as against Rs 625.5 crore in year-ago period, it said in a regulatory filing.

Total income during the quarter also fell to Rs 1,872.33 crore from Rs 2,232.58 crore.

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Topics : PNB Housing Finance