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Informist, Monday, Apr. 28, 2025

 

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--PNB Housing Fin Jan-Mar net profit INR 5.67 bln 
--Analysts saw PNB Housing Fin Jan-Mar net profit INR 5.01 bln
--PNB Housing Fin Jan-Mar net profit INR 5.67 bln vs INR 4.44 bln year ago
--PNB Housing Fin Jan-Mar revenue INR 20.30 bln vs INR 18.01 bln year ago
--PNB Housing Fin to pay INR 5 per share final dividend for FY25
--PNB Housing Fin FY25 net profit INR 19.49 bln vs INR 15.27 bln year ago
--PNB Housing Fin FY25 revenue INR 76.33 bln vs INR 70.14 bln year ago

 

NEW DELHI – PNB Housing Finance Ltd. on Monday reported a 27.8% rise in its net profit for the quarter ended March, mainly on the back of reversal of prior impairments on financial instruments and write-offs. The housing finance company's net profit for Jan-Mar was INR 5.67 billion, better than analysts' estimates, which were in the range of INR 4.82 billion and INR 5.10 billion with the median estimate of INR 5.01 billion. Analysts had expected the lender to report healthy profit growth due to asset quality improvement and recoveries from the written-off pool.

 

During Jan-Mar, PNB Housing Finance wrote back INR 649 million worth of impairment on financial instruments and write-offs, against INR 66.3 million of impairment a year ago. The company said in its analyst presentation that the total written-off pool recovery, from retail and corporate, is INR 3.36 billion for 2024-25 (Apr-Mar).

 

The asset quality of the housing company also improved during the reporting quarter. PNB Housing's gross non-performing assets ratio improved to 1.08% as on Mar. 31 from 1.19% at the end of December and from 1.50% a year ago. The net non-perfoming asset ratio eased to 0.69% as on Mar. 31 from 0.80% at Dec. 31, and 0.95% last year. The provision coverage ratio stood at 36.10% as on Mar. 31, while the capital adequacy ratio was 29.38%.

 

On the business front, PNB Housing's total income in Jan-Mar was INR 20.45 billion, up 13.3% on year, driven by a 13.7% increase in interest income to INR 19.14 billion. Total disbursements during the quarter were up 24% at INR 68.54 billion, with assets under management at the end of March at INR 803.97 billion, up 13%.

 

In a press release, the company said that the net interest margin was 3.75% in the reporting quarter compared to 3.70% in previous quarter and 3.65% in the corresponding period last year.

 

For FY25, PNB Housing's net profit was INR 19.49 billion, up 27.6% on year, with total income 9.1% higher at INR 76.61 billion. The company will pay a final dividend of INR 5 per share for FY25, the company said Monday.

 

Shares of PNB Housing Finance closed 1.5% higher on Monday at INR 986.25 on the National Stock Exchange. The earnings were announced after market hours.  End

 

Reported by Sagar Sen

Edited by Tanima Banerjee

 

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