PNB Housing Oct-Dec net profit jumps 36% on impairment reversals
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Earnings Review

PNB Housing Oct-Dec net profit jumps 36% on impairment reversals

PNB Housing Finance on Tuesday reported a 36.0% jump in its net profit for the quarter ended December, thanks to the reversal of prior impairments on financial instruments and write-offs. The housing finance company's bottom line for Oct-Dec was INR 4.71 billion, broadly in line with analysts' estimates, which were in the range of INR 4.73 billion and INR 5.10 billion. Analysts had expected the lender to report healthy profit growth due to write-back of provisions.

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