Earnings Review
HUDCO posts modest PAT growth Jan-Mar as fin cost jumps 50%
This story was originally published at 15:08 IST on 7 May 2025
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--HUDCO: Net credit impaired assets ratio 0.25% on Mar 31 vs 0.36% yr ago
--HUDCO: Gross credit impaired assets ratio 1.67% on Mar 31 vs 2.71% yr ago
--HUDCO provision coverage ratio at 85.44% as on Mar 31
--HUDCO FY25 total income INR 103.48 bln vs INR 79.48 bln year ago
--HUDCO: Provisions per expected credit loss at INR 18.11 bln as on Mar 31
--HUDCO FY25 net profit INR 27.09 bln vs INR 21.17 bln year ago
--HUDCO Jan-Mar total income INR 28.55 bln vs INR 21.94 bln year ago
--HUDCO Jan-Mar net profit INR 7.28 bln vs INR 7.00 bln year ago
--HUDCO to pay INR 1.05 per share final dividend
NEW DELHI – Housing and Urban Development Corp. Ltd. witnessed a modest growth in its net profit in the March quarter as expenses rose sharply due to a 50% jump in finance costs. The financier's bottomline grew only 4% on year and fell sequentially to INR 7.28 billion in the quarter ended March.
While analysts had anticipated HUDCO's performance to moderate in the reporting quarter, the final profit estimate was lower than the expectation of INR 7.40 billion. After HUDCO reported a lower-than-expected profit, the copmpany's share price fell 2.7% to INR 216.46, which was lower than analysts' target price band of INR 255 to INR 361.
The surge in finance cost in the March quarter led to INR 18.35 billion of total expenses in the quarter, up 46.7% on year. This was despite a write-off reversal of INR 1.42 billion for the quarter.
With INR-1.42-billion write-off reversal, HUDCO's gross non-performing asset ratio improved to 1.67% as of Mar. 31 from 2.71% a year ago, and net NPA fell to 0.25% from 0.36%. HUDCO set aside INR 18.11 billion provisions at the end of March and had a provision coverage ratio of 85.44% as of Mar. 31.
HUDCO's total income grew 30% on year and 3.1% on quarter to INR 28.55 billion in the reporting quarter. Out of INR 28.55 billion, HUDCO earned INR 28.21 billion as interest income, up 41% on year.
For the financial year 2024-25 (Apr-Mar), HUDCO's net profit was up 28% at INR 27.09 billion. The company's total income was also 30.2% higher at INR 103.48 billion from INR 79.48 billion a year ago. The housing financier also decalred a final dividend dividend of INR 1.05 per share. End
Reported by Krity Ambey
Edited by Akul Nishant Akhoury
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