return to news
  1. PNB Housing Finance Q3 Results: Profit rises 43% to ₹483 crore

Market News

PNB Housing Finance Q3 Results: Profit rises 43% to ₹483 crore

PTI.jpg

1 min read | Updated on January 21, 2025, 21:05 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

PNB Housing Finance reported a 43% rise in Q3 net profit to ₹483 crore, driven by higher interest income. Total income grew to ₹1,943 crore, and gross NPAs declined to 1.19%. Its capital adequacy ratio dropped to 28.8%.

Stock list

During the Q3 FY25, PNB Housing Finance's interest income improved to ₹1,848 crore as compared to ₹1,680 crore in the same period a year ago

During the Q3 FY25, PNB Housing Finance's interest income improved to ₹1,848 crore as compared to ₹1,680 crore in the same period a year ago

PNB Housing Finance Q3 results: PNB Housing Finance on Tuesday reported a 43% jump in net profit to ₹483 crore for the December quarter.

The non-banking finance company, promoted by Punjab National Bank, had earned ₹338 crore in the same quarter a year ago.

Total income during the third quarter of the current fiscal year grew to ₹1,943 crore from ₹1,756 crore in the year-ago period, PNB Housing Finance said in a regulatory filing.

During the quarter, interest income improved to ₹1,848 crore as compared to ₹1,680 crore in the same period a year ago.

Total expenses increased marginally to ₹1,327 crore as against ₹1,316 crore a year earlier.

Gross non-performing assets declined to 1.19% as of December 31, 2024, compared to 1.73% at the end of the third quarter of the previous fiscal year.

The mortgage firm has recovered ₹53 crore from retail written-off pool in the quarter under review, it said.

The capital adequacy ratio declined to 28.8% from 29.53% at the end of December 2023, it added.

About The Author

PTI.jpg
Press Trust of India (PTI) is India's premier news agency.

Next Story