Repco Home Finance Limited has announced its financial results prepared as per Indian Accounting Standards for the quarter ended December 31, 2020. The Company's financial performance remained robust even as the economy is rebounding from the pandemic led setbacks.
Performance in Q3FY21 Vs Q3FY20:
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Total income grew 5% to Rs359.8cr .
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Net interest income stood at Rs154.4cr and margins at record 5.1%.
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Net profits stood at Rs79.6cr .
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Loans sanctions stood at Rs650.0cr
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Loan disbursements stood at Rs551.7cr
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Interest spread expanded to 3.9%.
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Return on assets and equity expanded to 2.6% and 17.3% respectively.
Performance in 9MFY21 Vs 9MFY20
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Total income grew 5% to Rs1,051.9cr .
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Net interest income stood at Rs422.0cr and margins at record 4.7%.
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Net profits stood at Rs224.4cr .
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Loans sanctions stood at Rs1,339.2cr
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Loan disbursements stood at Rs1,200.5cr
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Interest spread expanded to 3.5%.
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Return on assets and equity remained robust at 2.5% and 16.9% respectively.
Loan Book and composition
The overall loan book grew 4% to Rs12,058.8cr at the end of December 2020. Loans to the selfemployed segment accounted for 51.5% of the outstanding loan book and loans against property product accounted for 18.8% of the same.
Asset Quality
Stage 3 assets improved to 3.3% of the loan assets as at the end of December 2020 as compared to 4.2% as at the end of December 2019. Loans restructured were contained at 0.3% of the loan book, amounting to Rs35.5cr .
Provision for Expected Credit Losses
As required under IND AS, the company has carried provisions for expected credit losses to the tune of Rs262.4cr or 2.2% on total loan assets. Stage 3 coverage ratio stood at 44% at the end of December 2020 as compared to 29% in the previous year.
Capital Adequacy
The capital adequacy ratio stood provisionally at 27.4% comprising entirely of Tier-1 capital. The minimum capital adequacy ratio prescribed by the National Housing Bank is 12.0%.
Distribution network
As on December 31, 2020, the Company had a total network of 153 branches and 24 satellite centers spread across Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Kerala, Maharashtra, Odisha, Gujarat, West Bengal, Madhya Pradesh, Jharkhand, Rajasthan and the Union Territory of 0 Puducherry.
Repco Home Finance is currently trading at Rs273.25 apiece up by Rs14.45 or 5.58% from its previous closing of Rs258.80 on the BSE, at around 10:40 AM
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