Latest News | PNB Housing Finance Q2 Net Profit Jumps 45.9 Pc to Rs 383 Cr

Mumbai, Oct 23 (PTI) PNB Housing Finance on Monday reported a 45.9 per cent rise in its net profit to Rs 383 crore in the September 2023 quarter on higher interest income.

The non-banking finance company had posted a net profit of Rs 262.63 crore in the year-ago period.

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The company's total income rose to Rs 1,779.4 crore in the second quarter of 2023-24 from Rs 1,683.43 crore in the same period of the last financial year, PNB Housing Finance Limited said in a regulatory filing.

The income earned from interest in the quarter under review was Rs 1,702.86 crore, up from Rs 1,597.54 crore in the July-September quarter of 2022-23.

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Its expenses stood at Rs 1,272.29 crore against Rs 1,343 crore in the year-ago quarter.

On the asset front, the Delhi-based housing financer reported its gross non-performing assets at 1.78 per cent, down from 6.06 per cent a year ago.

Similarly, the net NPA of the company promoted by state-owned Punjab National Bank stood at 1.19 per cent in the September quarter against 3.59 per cent in the year-ago period.

The company's loan book stood at Rs 60,852 crore in September-end 2023, up 5.2 per cent on a year-on-year basis.

Shares of PNB Housing Finance ended at Rs 718.30 apiece on BSE, down 3.83 per cent over the previous close.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)