PNB Housing Finance Q2 2023-24 net profit jumps 45.9% to Rs 383 cr

Mumbai, 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.

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.

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.