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Housing loan finance firm Repco Home Finance Ltd on Tuesday (November 12) reported a 14.4% year-on-year (YoY) increase in net profit at ₹108.7 crore for the second quarter that ended September 30, 2024.
In the corresponding quarter of the previous fiscal, Repco Home Finance posted a net profit of ₹95 crore, the company said in a regulatory filing.
Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, was up 1.7%, coming at ₹175.7 crore against ₹172.7 crore in the corresponding quarter of FY24.
In monetary terms, gross NPA stood at ₹552 crore against ₹583 crore quarter-on-quarter, whereas net NPA came at ₹217 crore against ₹223 crore quarter-on-quarter.
Repco Home Finance's loan sanctions reached ₹926 crore, an 8% increase from ₹860 crore in Q2 FY24. Loan disbursements also grew by 9%, standing at ₹867 crore compared to ₹797 crore in the previous year.
Total income for the quarter rose by 11.5%, amounting to ₹428 crore, up from ₹384 crore in Q2 FY24. Net interest income increased marginally from ₹173 crore to ₹176 crore, while net profits grew by 15%, reaching ₹113 crore from ₹98 crore.
The company maintained a healthy loan spread of 3.4%, with a return on assets at 3.3% and a return on equity at 16%, compared to 3.1% and 16.1%, respectively, in Q2 FY24. Compared to Q1 FY25, loan sanctions rose by 27%, from ₹727 crore to ₹926 crore, and loan disbursements grew by 28%, from ₹680 crore to ₹867 crore.
Total income also showed a significant increase, growing by 28%, from ₹416 crore to ₹428 crore. Net profits for the quarter increased by 7%, from ₹105 crore to ₹113 crore. The loan spread remained steady at 3.4%, and the return on assets and equity was 3.3% and 16.0%, respectively, compared to 3.1% and 16.3% in Q1 FY25.
As of September 30, 2024, the company’s loan book stood at ₹13,964 crore, an 8.1% increase from ₹12,922 crore a year ago. Housing loans made up 74% of the loan book, while home equity products accounted for 26%.
Non-salaried loans represented 52% of the outstanding loan book, while salaried loans made up the remaining 48%. The company’s capital adequacy ratio stood at 33.98%, well above the regulatory minimum of 15%.
The results came after the close of the market hours. Shares of Repco Home Finance Ltd ended at ₹461.00, down by ₹12.50, or 2.64% on the BSE.
In the corresponding quarter of the previous fiscal, Repco Home Finance posted a net profit of ₹95 crore, the company said in a regulatory filing.
Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, was up 1.7%, coming at ₹175.7 crore against ₹172.7 crore in the corresponding quarter of FY24.
In monetary terms, gross NPA stood at ₹552 crore against ₹583 crore quarter-on-quarter, whereas net NPA came at ₹217 crore against ₹223 crore quarter-on-quarter.
Repco Home Finance's loan sanctions reached ₹926 crore, an 8% increase from ₹860 crore in Q2 FY24. Loan disbursements also grew by 9%, standing at ₹867 crore compared to ₹797 crore in the previous year.
Total income for the quarter rose by 11.5%, amounting to ₹428 crore, up from ₹384 crore in Q2 FY24. Net interest income increased marginally from ₹173 crore to ₹176 crore, while net profits grew by 15%, reaching ₹113 crore from ₹98 crore.
The company maintained a healthy loan spread of 3.4%, with a return on assets at 3.3% and a return on equity at 16%, compared to 3.1% and 16.1%, respectively, in Q2 FY24. Compared to Q1 FY25, loan sanctions rose by 27%, from ₹727 crore to ₹926 crore, and loan disbursements grew by 28%, from ₹680 crore to ₹867 crore.
Total income also showed a significant increase, growing by 28%, from ₹416 crore to ₹428 crore. Net profits for the quarter increased by 7%, from ₹105 crore to ₹113 crore. The loan spread remained steady at 3.4%, and the return on assets and equity was 3.3% and 16.0%, respectively, compared to 3.1% and 16.3% in Q1 FY25.
As of September 30, 2024, the company’s loan book stood at ₹13,964 crore, an 8.1% increase from ₹12,922 crore a year ago. Housing loans made up 74% of the loan book, while home equity products accounted for 26%.
Non-salaried loans represented 52% of the outstanding loan book, while salaried loans made up the remaining 48%. The company’s capital adequacy ratio stood at 33.98%, well above the regulatory minimum of 15%.
The results came after the close of the market hours. Shares of Repco Home Finance Ltd ended at ₹461.00, down by ₹12.50, or 2.64% on the BSE.
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