PNB Housing Finance PAT slips 5 pc to Rs 243 crore in Q1
Aug 04, 2021
New Delhi [India], Aug 4 : PNB Housing Finance Ltd said on Wednesday its profit after tax stood at Rs 243 crore in Q1 FY22 versus Rs 257 crore in Q1 FY21, registering a degrowth of 5 per cent.
The spread stood at 2.7 per cent as compared to 2.2 per cent. Net interest margin stood at 3.2 per cent as compared to 2.7 per cent, the company said in a statement.
Gross margin net of acquisition cost came at 3.3 per cent compared to 2.6 per cent. Net interest income improved by 13 per cent to Rs 550 crore in Q1 FY22 compared to Rs 488 crore in Q1 FY21.
Operating expenditure increased by 11 per cent to Rs 115 crore versus Rs 102 crore while pre-provision operating profit increased by 17 per cent to Rs 475 crore as compared to Rs 405 crore.
The ECL provision as on June 30 is Rs 2,700 crore resulting in total provision to assets ratio at 4.5 per cent. The stage three provision coverage ratio is at 39.7 per cent.
Return on asset is at 1.4 per cent as compared to 1.3 per cent. Gearing as on June 30 reduced considerably to 6.4x compared to 8.2x as in June last year.
The return on equity stood at 10.7 per cent as compared to 12.6 per cent, said PNB Housing Finance.
Disbursements during Q1 FY22 stood at Rs 1,759 crore compared to Rs 694 crore in Q1 FY21, registering an increase of 153 per cent. Retail disbursements were 94 per cent of the total disbursements in Q1 FY22.
Asset under management (AUMs) totalled Rs 71,828 crore as on June 30, Retail loans contribute 85 per cent and corporate loans 15 per cent of the AUMs, down from 18 per cent as on June 30 last year.
Loan assets stood at Rs 60,438 crore from Rs 68,009 crore in the same period.
Gross non-performing assets (NPAs) at an AUM level stood at 5.5 per cent and 6 per cent at loan assets. Net NPAs stood at 3.6 per cent of loan assets.
Hardayal Prasad, Managing Director and CEO, said the company continues to focus on increasing its digital footprints, grow retail business with efficient underwriting and collection models and optimise costs in order to create value for all its stakeholders.
