BackPNB Housing Finance Q4 Results: Net profit rises 64% to ₹279 crore, NII up 27%
The company's net-interest income for the January-March quarter came in at ₹627 crore, posting a rise of 27 per cent, compared to ₹494.7 crore in the year-ago period.
PremiumPNB Housing Finance announced its Q4FY23 results, reporting a consolidated net profit of ₹279 crore, registering a growth of 64.7 per cent, compared to ₹170 crore in the corresponding period last year. The company's net-interest income for the January-March quarter came in at ₹627 crore, posting a rise of 27 per cent, compared to ₹494.7 crore in the year-ago period.
The company's rights issue of ₹2,493.76 crore was subscribed by around 1.21 times. The issue witnessed participation from top four shareholders and other large domestic and foreign institutional investors.
Also Read: PNB Housing Finance raises ₹2,500 Cr rights issue with an entitlement ratio of 29:54
Revenue from operations for Q4FY23 came in at ₹1,635.71 crore, registering a growth of 14.71 per cent, compared to ₹1,425.83 crore in the same period last year. ‘’The disbursements during FY23 grew by 33 per cent year-on-year to ₹14,965 crore. For Q4 FY23 stood at ₹4,495 crore registering an increase of 22 per cent year-on-year,'' according to a regulatory filing by the company to the stock exchanges.
The gross non-performing assets declined by 430 bps to 3.83 per cent as on March 31, 2023, compared to 8.13 per cent in the corresponding quarter last year. The retail GNPA declined by 133 bps to 2.57 per cent in the fourth quarter, compared to 3.89 per cent in the year-ago period. ICRA, CRISIL and India Ratings upgraded the outlook to ‘stable’ from ‘negative’ in FY23 for PNB Housing Finance.
‘’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,'' said Girish Kousgi, Managing Director and CEO, PNB Housing Finance.
On May 18, shares of PNB Housing Finance settled 2.47 per cent higher at ₹480.35 apiece on the BSE.
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