Repco Home Finance has reported a 51% jump in its net profit at Rs. 100.6 crore for Q2FY20 compared to Rs. 66.58 crore a year ago.
Repco Home Finance has reported a 51% jump in its net profit at Rs. 100.6 crore for Q2FY20 compared to Rs. 66.58 crore a year ago. Total income stood at Rs. 335.53 crore against Rs. 296 crore, a rise of 13.35%.
The overall loan book of the Chennai-headquartered company rose 11% to Rs. 11,495.9 crore at the end of September 2019. Loans to the self-employed segment accounted for 53.4% of the outstanding loan book and loans against property product accounted for 18.5% of the same.
The gross non-performing assets stood at 4.2% as at the end of September 2019 compared to 3.6% a year ago. As required under IND AS, the company has carried provisions for expected credit losses to the tune of Rs. 162.5 crore or 1.4% on total loan assets. Stage 3 coverage ratio stood at 28% at the end of September 2019 compared to 18% a year ago, it said in a statement.
The capital adequacy ratio stood provisionally at 25.1%, comprising entirely of Tier-1 capital. The minimum capital adequacy ratio prescribed by the National Housing Bank is 12%.