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PNB Housing Finance share price loses over 12% on weak Q3 earnings

Share price of PNB Housing Finance lost up to 12.08% to Rs 476.8 compared to the previous close of Rs 542.30 on BSE

twitter-logo BusinessToday.In        Last Updated: January 24, 2020  | 15:08 IST
PNB Housing Finance share price loses over 12% on weak Q3 earnings
PNB Housing Finance share opened with a loss of 6.88% at Rs 505 on BSE today

PNB Housing Finance share price fell over 12% in trade today after the housing finance company reported a 22% decline in Q3 net profit on lower loan disbursals and higher expenses. Share price of PNB Housing Finance lost up to 12.08% to Rs 476.8 compared to the previous close of Rs 542.30 on BSE.

The mid cap stock has lost 15% during the last two days. PNB Housing Finance share opened with a loss of 6.88% at Rs 505 on BSE today. The stock has lost 48% during the last one year.  However, it has gained 11.18% since the beginning of this year.

Gross NPAs rose to 1.75% for quarter ended December 31, 2019 as against 0.47% for the corresponding quarter in previous fiscal. Loan disbursements fell to Rs 15,800 crore for quarter ended December 2019 compared with Rs 27,518 crore a year ago. Total income declined 0.18% to Rs 2,074.76 crore in the quarter ended December 2019 as against Rs 2,077.74 crore during the corresponding quarter ended December 2018.

By Aseem Thapliyal

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