PNB Housing Finance Limited Announces Unaudited Standalone Earnings Results for the Third Quarter and First Nine Months Ended December 31, 2017
January 23, 2018 at 02:11 pm
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PNB Housing Finance Limited announced unaudited standalone earnings results for the third quarter and first nine months ended December 31, 2017. For the quarter, the company reported revenue from operations of INR 14,384.9 million compared to INR 9,987.5 million a year ago. Profit before tax was INR 3,338.5 million compared to INR 2,079.3 million a year ago. Net profit was INR 2,174.6 million or INR 12.89 per diluted share compared to INR 1,377.8 million or INR 9.04 per basic and diluted share a year ago. The net interest income is up by 55% to INR 4,110 million.
For the first nine months, the company announced revenue from operations of INR 39,464.2 million compared to INR 28,317.7 million a year ago. Profit before tax was INR 9,363.8 million compared to INR 5,623.7 million a year ago. Net profit was INR 6,102.0 million or INR 36.20 per diluted share compared to INR 3,713.3 million or INR 27.14 per basic and diluted share a year ago. The net interest income is up by 62% at INR 11,410 million. The return on asset on an annualized basis for the nine month period for the current financial year is at 162 basis points. The return on equity is 13.92% for the nine months period vis-à-vis 17.03% for the nine month period of the previous year. The decline in ROE is due to the expansion on the equity capital post IPO in November of 2016.
PNB Housing Finance Limited is an India-based housing finance company. The Company provides housing loans to individuals and corporate bodies for purchase, construction, repair and upgradation of houses. It also provides loans for commercial space, loans against property and loans for purchase of residential plots. Its product portfolio consists of retail loans, which include individual housing loans, loans against property, non-residential premises loans, and corporate loans. It provides home loans, which includes housing loan, home construction loan, home extension loan, home improvement loan, plot loan, loan for NRIs, Pradhan Mantri Awas Yojana. It offers non-home loans, including commercial property loan, loan against property, lease rental discounting and loan for real estate developers. It provides fixed deposit, which includes various types of fixed deposit, such as cumulative deposit, non-cumulative deposit, joint fixed deposit, and non-resident Indians (NRIS) fixed deposit.