Aadhar Housing Finance on Thursday reported a 17 per cent increase in net profit to Rs 239 crore in the December quarter. The housing finance company earned a profit of Rs 204 crore in the same quarter a year ago. Total income during the third quarter of the current fiscal grew to Rs 785 crore from Rs 659 crore in the year-ago period, Aadhar Housing Finance said in a regulatory filing. During the quarter, interest income improved to Rs 714 crore compared to Rs 579 crore in the same period a year ago. Total expenses increased to Rs 478 crore against Rs 398 crore a year earlier. Gross non-performing assets declined to 1.36 per cent as of December 31, 2024, compared to 1.40 per cent at the end of the third quarter of the previous financial year. The mortgage firm's Asset Under Management (AUM) grew by 21 per cent to Rs 23,976 crore from Rs 19,865 crore as of December 31, 2023.
The northward move in Aadhar Housing share came after foreign brokerage Citi Research initiated coverage with 'Buy' for a target price of Rs 565 per share
Q2 results today, November 6: Aadhar Housing Finance, Power Grid Corporation of India, and Jindal Steel & Power will be releasing their Q2FY25 results today
JM Financial Institutional Securities has initiated coverage on Aadhar Housing Finance with a 'Buy' rating and a target price of Rs 600
The surge in Aadhar Housing share came after Kotak Institutional Equities initiated coverage on the company with 'Buy' rating for a target price of Rs 550, marking an upside of 41%.
For Q1FY24, the non banking financial company (NBFC) reported revenue from operations to the tune of Rs 713 crore, a 20.2 per cent increase Y-o-Y from Rs 593 crore in June quarter of FY24