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GRUH Finance spurts after strong Q4 earnings

Capital Market 

GRUH rose 5.16% to Rs 644 at 10:00 IST on after net profit rose 18.16% to Rs 130.51 crore on 16.39% increase in total income to Rs 484.31 crore in Q4 March 2018 over Q4 March 2017.

The result was announced on Saturday, 14 April 2018.

Meanwhile, the Sensex was down 42.95 points, or 0.13% to 34,149.70.

On the BSE, 1.06 lakh shares were traded in the counter so far compared with average daily volumes of 32,000 shares in the past two weeks. The stock had hit a high of Rs 651.50 and a low of Rs 611.20 so far during the day. The stock hit a 52-week high of Rs 713.55 on 19 January 2018. The stock hit a 52-week low of Rs 367.70 on 17 April 2017.

Net profit rose 22.26% to Rs 362.68 crore on 13.43% increase in total income to Rs 1687.19 crore in the year ended March 2018 over the year ended March 2017.

GRUH said disbursements during the year ended 31 March 2018 amounted to Rs 5259 crore as compared to Rs 4125 crore during the corresponding period in previous year, representing a growth of 27%. Loan assets have increased from Rs 13244 crore as on 31 March 2017 to Rs 15568 crore as on 31 March 2018, registering a growth of 18%.

The aggregate non-performing assets (NPAs) of the company are 0.45% of the loan assets as on 31 March 2018 as against 0.31% of the loan assets as on 31 March 2017. All NPAs have been fully provided and Net NPAs are Nil, the company said.

Gruh said that its board recommended issuing bonus shares in the ratio of 1:1 (i.e. 1 equity share for each equity share held as on the record date to be fixed for the purpose) to the shareholders of the company.

Further, the company's board granted its in-principle approval for issuance of on-shore and/or off-shore instruments including but not limited to bonds, non-convertible debentures, non-convertible subordinated Tier-ll debentures, denominated in Indian currency and/or an foreign currency, not exceeding Rs 5100 crore, through private placement.

is a housing finance company registered with The company falls under the category of company (NBFC).

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

First Published: Mon, April 16 2018. 10:06 IST
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