PNB Housing Finance, one of the largest state-owned mortgage lender in India reported their quarterly financials with a net profit of Rs. 255.80 crores posting a 50% rise as compared to the profit of Rs. 170 crores secured during the April-June quarter of the previous fiscal.
PNB Housing Finance total revenue for the quarter under review was recorded at Rs. 1616.03 crores, registering a 39% increase in quarterly revenue as compared to Rs. 1160 crores earned during the April-June quarter of FY18. The Net Interest Income (NII) witnessed a growth of 28% to Rs. 432.8 crores as against Rs. 339.3 crores secured during the corresponding quarter of the previous quarter.
The net interest margin stood at 2.74% in the April-June quarter of the current fiscal year as against 3.10% during the same period the year earlier. The company disbursement stood at Rs. 9767 crores whereas it remained at Rs. 7793 crores during the fiscal year 2017-18. The asset under management reached to Rs. 68577 crores, registering a 47% incline.
The company’s MD said, “We continue to register a strong double-digit growth in all our business and financial sectors. However, we believe in a profitable growth, hence pre-empting the interest rate scenario, increased our lending rates on the book as well as on incremental disbursements.”