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