Repco Home Finance’s net profit up 43.53% in Q1 FY24, Real Estate News, ET RealEstate
NEW DELHI: Repco Home Finance has reported a growth of 43.53 per cent in its net consolidated profit during the quarter ended June 30, 2023. Its profit after tax stood at Rs 89.09 crore in Q1 FY24 as against Rs 62.07 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 366.50 crore, a growth of 19.38 per cent from Rs 307 crore it recorded in the similar quarter last year.
Loan sanction stood at Rs 726 crore, loan disbursement stood at Rs 684 crore in Q1 FY24. Loan spread remained at 3.3%, return on assets stood at 2.8%, resulting in a return on equity of 15.8% as compared to 2.1% and 12.2% respectively.
The overall loan book stood at Rs 12,655.4 crore at the end of June 2023. Loans to the non-salaried segment accounted for 51.8% of the outstanding loan book and loans for salaried segment accounts for 48.2% of loan book. Housing loans accounted for 76.9% of the loans while home equity products accounted for 23.1% of the outstanding loan book.
As on June 30, 2023, gross non-performing assets (NPAs) amounted to Rs 695 crore, resulting in a return on equity of 15.8%. Net NPA constituted Rs 338 crore of the loan assets. The gross NPA ratio stood at about 5.5% and net NPA ratio stood at about 2.8% of the loan assets. The capital adequacy ratio stood at 36.1%.
