GIC Housing Finance’s net profit declines 46.39% in Q2 FY24, Real Estate News, ET RealEstate
NEW DELHI: GIC Housing Finance has reported a dip of 46.39 per cent in its net consolidated profit during the quarter ended September 30, 2023. Its profit after tax stood at Rs 30.19 crore in Q2 FY24 as against Rs 56.31 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 270.19 crore in Q2 FY24, a dip of 3.81 per cent from Rs 280.89 crore it recorded in the similar quarter last year.
The board of directors have approved the appointment of N. Ramaswamy as an additional director (non-executive director) & chairman of the board.
As on September 30, 2023, its net worth stood at Rs 1,737.47 crore, debt-equity ratio was 5.02, total debts to total assets was 82.71%, net profit margin was 11.17%, loan portfolio (gross) was 10,314 crore and gross non-performing assets (NPAs) were 4.59%.
