PNB Housing Finance profit up 51% at ₹380 crore

 (Photo: PTI)

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

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

The net interest margin stood at 3.18% compared to 3.59% in the previous year. Gross margin, net of acquisition cost but including fees stood at 3.51% 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 2,063.5 crore versus 1,659.9 crore, registering a growth of 24%. Profit after tax grew by 42% to 1,191.5 crore from841.2 crore while the spread on loans for FY18-19 stood at 2.35% compared to 2.54% for FY17-18.

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

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

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

This story has been published from a wire agency feed without modifications to the text.

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