(PTI) PNB Housing Finance on Tuesday reported 43 per cent jump in net profit at ₹269 crore driven by a massive growth in the core net interest income in December quarter even though loan growth was muted for the period.
The company's net interest income jumped 67 per cent to ₹734 crore during the quarter, as it passed on the rising interest rates to its customers even though the mainstay retail loan book inched up only 6.6 per cent to ₹53,123 crore.
Retail book constitutes as much as 92 per cent of this asset, the company said in a statement.
Total loan book increased to ₹58,034 crore from ₹57,845 crore in December 2021. Spread on loans stood at 3.83 per cent, up from 3.38 per cent, helping it improve its net interest margin to 4.68 per cent from 4.14 per cent.
Total income rose to ₹1,713.64 crore in the quarter from ₹1,411.24 crore in the year-ago period.
Impairment on financial instruments and write-offs rose to ₹254.84 crore from ₹129.48 crore.
Overall asset quality improved with gross bad loan ratio coming down to 4.87 per cent from 6.06 per cent and net NPA ratio remaining flat at 3.22 per cent.
Of the total dud loans, 2.86 per cent are in the retail segment, which also improved from 3.39 per cent while corporate NPAs stood at 26.61 per cent, down from 30.37 per cent.
