PNB Housing Finance posted a 65 per cent year-on-year (YoY) rise in net profit to Rs 279 crore in the fourth quarter (January-March) of FY23 on the back of improved margins and net interest income.
The housing finance company (HFC) had booked a net profit of Rs 170 crore in the March quarter of FY22 and Rs 269 crore in Q3FY23.
The bank’s asset quality showed an improvement with gross non-performing assets (NPAs) as a percentage of gross advances dropping to 3.83 per cent at the end of FY23 from 8.13 per cent at the end of FY22.
Girish Kousgi, managing director & CEO of PNB Housing Finance, said, “We are pleased to report that this fiscal year has been incredibly eventful for us. After 13 quarters, we have achieved the highest retail disbursement and loan asset as an outcome of our ongoing efforts to build the retail business. We have also witnessed a remarkable improvement in the asset quality which reduced by 52 per cent year-on-year.”
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