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PNB Housing Finance profit up 51 pc at Rs 380 crore

ANI 

PNB Housing Finance Limited said on Thursday its net interest income registered a growth of 13 per cent to Rs 609.7 crore in the quarter ending March 31 from Rs 540.8 crore in the corresponding period of previous fiscal year.

While profit after tax grew by 51 per cent to Rs 379.7 crore from Rs 251.6 crore. The spread on loans for Q4 FY18-19 stood at 2.59 per cent compared to 2.98 per cent for Q4 FY 17-18.

The net interest margin stood at 3.18 per cent compared to 3.59 per cent in the previous year. Gross margin, net of acquisition cost but including fees stood at 3.51 per cent compared to 3.78 for Q4 FY18.

"FY18-19 was a challenging year with tight liquidity, which impacted the overall Indian financial and real estate sectors," said Managing Director Sanjaya Gupta.

"Amid such environment, we continued our focus on maintaining adequate liquidity, balanced asset liability management, efficient operations and robust asset quality. This resulted in double digit growth across all the businesses and financial sectors," he said in a statement.

During the entire financial year 2018-19, net interest income was Rs 2,063.5 crore versus Rs 1,659.9 crore, registering a growth of 24 per cent. Profit after tax grew by 42 per cent to Rs 1,191.5 crore from Rs 841.2 crore while the spread on loans for FY18-19 stood at 2.35 per cent compared to 2.54 per cent for FY17-18.

Net interest margin stood at 2.93 per cent compared to 3.19 per cent while gross margin, net of acquisition cost but including fees, for FY18-19 stood at 3.34 per cent compared to 3.5 per cent for FY17-18.

The net worth as on March 31 stood at Rs 7,543.9 crore. Asset under management totalled Rs 84,721.9 crore.

The board of directors recommended final dividend of Rs 9 per equity share of Rs 10 for FY 19.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 09 2019. 19:55 IST
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