Comments
HomeFirst Finance posted a 213 per cent jump in its net profit for the second quarter of the fiscal to ₹45 crore from ₹14 crore in the same period last fiscal.
For the July to September 2021 quarter, its total income jumped up by 34.3 per cent on year on year basis to ₹146 crore.
Total disbursements increased by 111.9 per cent to ₹515 crore in the quarter ended September 30, 2021 from ₹243 crore in the corresponding quarter last fiscal.
Gross stage 3 assets rose by 80 basis points to 1.7 per cent as on September 30, 2021 from 0.9 per cent a year ago. However, it was down 20 basis points from 1.9 per cent as on June 30, 2021.
Manoj Viswanathan, MD and CEO, HomeFirst Finance said, “Our second quarter 2021-22 performance was better than our expectation, with disbursals crossing ₹500 crore for the first time. We recorded an assets under management growth of 23.8 per cent year on year and a sequential growth in profit after tax of 27.8 per cent.”
Bounce rates improved in October 2021 to 15 per cent from 16.5 per cent in the second quarter of 2021-22 and 18.3 per cent in the first quarter.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.