PNB Housing Q1 profit jumps 23% to Rs 534 crore on loan growth, NIM boost
ADVERTISEMENT The lender's net interest margin for the quarter stood at 3.74%, an improvement from 3.65% in the corresponding period last year. Its asset quality improved with gross non-performing assets ratio being at 1.06% at end-June, falling from 1.35% seen a year back.
Its pre-provision operating profit grew by 17% year-on-year at Rs 632 crore, buoyed by a 17% rise in net interest income at Rs 760 crore.
The company's loan assets grew 16% year-on-year to Rs 77,732 crore with retail loans standing at Rs 76,923 crore.Within retail, affordable loan assets grew 143% at 5,744 crore while emerging markets loans expanded by 20% to Rs 22,701 crore.
'The company's focus on high-yielding business led to 30% year-on-year disbursement growth in the affordable and emerging markets segment during the quarter contributing 50% in the retail disbursement," managing director Girish Kousgi was quoted as saying in an exchange filing.
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