Repco Home Finance has registered 21.4 per cent increase in consolidated net profit at Rs 182.25 crore for the last fiscal ended March 2017.
Repco Home Finance has registered 21.4 per cent increase in consolidated net profit at Rs 182.25 crore for the last fiscal ended March 2017. The company’s net profit in the preceding fiscal ended March 2016 stood at Rs 150.08 crore. Total income during the year rose to Rs 1,045.89 crore from Rs 881.85 crore in 2015-16, the company said in a regulatory filing. As on March 31, 2017, Repco Home’s gross non-performing assets (NPAs) were 2.60 per cent of the gross advances or Rs 232.84 crore, up from 1.31 per cent (Rs 100.87 crore) a year ago.
Net NPAs or bad loans too rose to 1.39 per cent of the net advances as at the end of fiscal 2017 from 0.48 per cent year earlier. The board of the company has recommended a dividend of Rs 2 per equity share for 2016-17. The company sanctioned loans worth Rs 2,875.75 crore during 2016-17, down from Rs 3,082.76 crore a year ago.
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A unit of government promoted cooperative Repco Bank, Repco Home Finance is engaged in the business of providing loans for purchase or construction of residential house. Stock of the company closed 0.28 per cent up at Rs 784.20 on BSE.