BUSINESS

Recent Debutant Rallies 6.5% as of Q4 Profit Surges 151%

Shares of Home First Finance Company (HFFC) jumped up to 6.5 per cent in the early trade on Tuesday after the recent debutant of Dalal street reported a 151 per cent surge in March quarter profit. The affordable housing finance player on Monday reported a profit after tax of Rs 31 crore for the quarter against Rs 12 crore posted for the year-ago period. The company disbursed Rs 452 crore loans during the quarter, 30.4 per cent more than Rs 347 crore reported for the same quarter last year. For FY2020-21, the lender’s net profit grew 25 per cent to Rs 100 crore from Rs 80 crore a year ago.

On Tuesday, the scrip surged up to 6.46 per cent to Rs 520.35 on BSE, even as benchmark Sensex traded marginally higher at 48,783. HFFC shares had closed at Rs 488.75 on Monday. “The fourth-quarter numbers were excellent for us. Our disbursement was good. Asset quality has been stable and we have done nil restructuring,” Managing Director and CEO Manoj Viswanathan said.

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Home First Finance Company (HFFC)- View Detailed Analysis

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