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PNB Housing Q4 net profit jumps 51% to Rs 380 crore

The company's net profit stood at Rs 251.58 crore in the corresponding quarter of 2017-18.

twitter-logo BusinessToday.In   New Delhi     Last Updated: May 9, 2019  | 17:03 IST
PNB Housing Q4 net profit jumps 51% to Rs 380 crore

PNB Housing Finance Thursday reported a 51 per cent jump in its consolidated net profit to Rs 379.77 crore for the fourth quarter ended March 2019.

The company's net profit stood at Rs 251.58 crore in the corresponding quarter of 2017-18.

Its total income (consolidated) during the quarter rose to Rs 2,148.19 crore, up by 31 per cent as compared with Rs 1,638.48 crore in the year-ago quarter, the company said in a regulatory filing.

Net interest income (NII) registered a growth of 13 per cent to Rs 609.7 crore from Rs 540.8 crore, it said.

The net interest margin for the quarter stood at 3.18 per cent, compared to 3.59 per cent a year ago.

For full year, the net profit of the company grew 42 per cent to Rs 1,191.5 crore from Rs 841.2 crore in the previous financial year.

PNB Housing said its board of directors recommended final dividend of Rs 9 per equity share for 2018-19.

On asset quality, the gross non-performing assets (NPA) stood at 0.48 per cent of the loan assets as on March 31, 2019, as against 0.33 per cent at the end of March 2018.

Net NPA stood at 0.38 per cent against 0.23 per cent.

The company's asset under management (AUM) is at Rs 84,721.9 crore as on March 31, 2019, up from Rs 62,252 crore a year ago, it added. Loan asset grew 30 per cent from a year earlier to Rs 74,023.0 crore.

"FY19 was a challenging year with tight liquidity, which impacted the overall Indian financial and real estate sectors. 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 vectors.

"Our profit after tax (PAT) for the year crossed a landmark of Rs 1,100 crore for the financial year 2018-19. We would continue to maintain a balanced approach to business, with focus on asset quality, and improving profitability," Sanjaya Gupta, managing director, PNB Housing Finance, said.

Shares of PNB Housing Finance Thursday rose 0.81 per cent to Rs 698.05 on the BSE.

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