Money & Banking

PNB Housing Finance net up 51% in Q2

K.R.Srivats New Delhi | Updated on January 08, 2018

PNB Housing Finance Limited (PNBHFL) on Wednesday reported a 51 per cent increase in net profit for the second quarter ended September 30, 2017 at Rs 208 crore (Rs 138 crore).

Net interest income for the quarter under review increased 69 per cent to Rs 386 crore (Rs 228 crore).

For the six months ended September 30, PNBHFL's net profit grew 68 per cent to Rs 393 crore (Rs 234 crore). Net interest income recorded 67 per cent growth to Rs 730 crore from Rs 438 crore.

Commenting on the financial performance, Sanjaya Gupta, Managing Director, PNBHFL said that the company had witnessed double digit growth in Q2 and first half of fiscal 2017-18 on the back of geographic expansion and efficient borrowings.

"During the quarter, we achieved a landmark Assets Under Management of Rs 50,000 crore. We look forward to continue our growth journey with focus on network expansion, improvement in costs, maintain robust quality and an efficient borrowing mix", Gupta said.

Published on October 25, 2017

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