PNB Housing Finance has reported a jump of 49 per cent in its net profit to Rs 152.4 crore for last quarter ended March 2017 on healthy net interest income.
The company’s net profit in corresponding March quarter of the previous fiscal stood at Rs 102.60 crore. Total income increased by 37 per cent to Rs 1,075.98 crore during March quarter of 2016-17, against Rs 785.30 crore a year ago. The net interest income went up by 51 per cent during the quarter to Rs 332.70 crore from Rs 219.90 crore. On full year performance, PNB Housing’s profit after tax or net profit rose by 60 per cent to Rs 523.70 crore in 2016- 17, from Rs 326.50 crore a year ago.
Full year income increased to Rs 3,907.85 crore, up from Rs 2,698.67 crore, it said in a regulatory filing. “Net interest income surpassed Rs 1,000 crore at Rs 1,034.8 crore against Rs 710.1 crore registering a growth of 46 per cent,” the company said. The board of directors of the company today recommended a final dividend of Rs 6 per equity share for 2016-17. Dividend payout ratio for the year inclusive of dividend distribution tax is at 22.84 per cent. “The company declared double digit growth in all key parameters during 2016-17 from previous year. The asset under management crossed Rs 40,000 crore at end-March. Disbursement were over Rs 20,000 crore during the year,” Sanjaya Gupta, Managing Director PNB Housing Finance said in a statement.
“We look forward to continue our growth journey with focus on expansion and cost improvement while maintaining robust asset quality and an efficient borrowing mix,” he said. Stock of the company closed 1.07 per cent higher at Rs 1,323.65 apiece on BSE.