PNB Housing Finance on Thursday reported a jump of 50% in its net profit at Rs 255.80 crore in first quarter of the current fiscal on healthy loan disbursements.
The company had reported a net profit of Rs 170.10 crore in the similar April-June period of 2017-18.
Total income during the quarter increased to Rs 1,616.03 crore from Rs 1,160.21 crore in the same period a year ago, it said in a release. Interest income rose by 28% to Rs 432.80 crore as against Rs 339.30 crore in the same period of the previous fiscal.
“We continue to register a strong double-digit growth in all our business and financial vectors. However, we believe in a profitable growth, hence pre-empting the interest rate scenario, increased our lending rates on the book as well as on incremental disbursements,” Managing Director Sanjaya Gupta said.
Among other business metrics, the net interest margin stood at 2.74% in June quarter of 2018-19 as compared to 3.10% in the year-ago period.
“Return on asset is maintained at 1.54% on an average gearing of 8.66 against 6.46 during Q1 FY17-18 resulting in expansion in return on equity to 15.75% for Q1 FY2018-19 vis a vis 11.85% for Q1 FY2017-18,” PNB Housing said.
The company disbursed Rs 9,767.30 crore during the quarter, up by 25% from year ago’s Rs 7,793.90 crore.
The asset under management increased by 47% to Rs 68,577.50 crore as on June 30, 2018 from Rs 46,755.20 crore by June 2017. PNB Housing said the housing loans consist of 70% and non-housing 30% of the AUM. loan outstanding grew by a healthy rate of 45% year-on-year Rs 63,905.8 crore as on 30th June, 2018.
On asset quality, the gross non-performing assets (NPAs) stood at 0.43% of the loan assets as on June 30, 2018 against 0.43% year ago. At an AUM level, the gross NPAs falls further to 0.41%, it added. Net NPAs were at 0.33% against 0.33%.
Eicher Motors Q1 net up 25% to Rs 576 cr
Eicher Motors on Thursday reported 25.36% rise in consolidated net profit to Rs 576.18 crore for the quarter ended June 30, 2018. The company had posted a net profit of Rs 459.62 crore in April-June 2017-18, Eicher Motors said in a BSE filing.
Consolidated total revenue from operations stood at Rs 2,547.75 crore for the quarter under review. It was Rs 2,254.94 crore in the year-ago period.
MRF Q1 net profit jumps to Rs 261 cr
Tyre maker MRF on Thursday posted over two-fold increase in its net profit to Rs 260.74 crore for the first quarter ended June 30. The company had reported a net profit of Rs 106.53 crore for the same period previous fiscal. Revenue from operations stood at Rs 3,855.55 crore for the quarter. It was Rs 3,971.76 crore during the April-June period of 2017-18, MRF said in a regulatory filing.
Whirlpool Q1 net up
Home appliances maker Whirlpool of India on Thursday reported a 23.41% increase in net profit at Rs 163.79 crore for the quarter ended June 30, 2018. The company had posted a net profit of Rs 132.72 crore in the corresponding period last year. Total income during the first quarter stood at Rs 1,686.75 crore against Rs 1,639.54 crore in the year-ago period, Whirlpool of India ltd said in a BSE filing.
Bajaj Electricals Q1 net jumps 98%
Bajaj Electricals on Thursday reported a 97.70 per cent jump in standalone net profit at Rs 40.53 crore for the first quarter ended June 30, 2018. It had registered Rs 20.50 crore net profit in April-June period a year-ago.