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.”
LIC Housing Finance, HDFC: Trading strategies for housing finance companies
From Adani Wilmar to Havells India: Q4 results to watch out for today
Tata Capital to LIC Housing finance: Companies to raise funds from markets
PNB Housing Finance Q3 results: Net profit rises 43% at Rs 269 crore
PNB Housing Finance Q4 results: Consolidated profit rises 64% to Rs 279 cr
ITC net profit rises 23.35% to Rs 5,175 crore in Q4FY23, beats estimates
IndiGo posts Rs 919 crore net profit, its best-fourth quarter ever
Container Corp Q4 results: Profit rises 7.7% to Rs 279 crore, revenue up 6%
Gland Pharma profit declines by 56% on soft demand in March quarter
HCC Q4 results: Multifold rise with net profit at Rs 190.66 crore