Money & Banking

PNB Housing Finance Q1 net zooms 91% sequentially to ₹243 crore

Our Bureau New Delhi | Updated on August 04, 2021

Hardayal Prasad, Managing Director & CEO

However, bottomline dips marginally on a year-on-year basis

PNB Housing Finance Ltd (PNBHFL) on Wednesday reported a consolidated net profit of ₹243 crore for the first quarter ended June 30, 2021. This was a 91.34 per cent increase over net profit of ₹127 crore in the previous March 2021 quarter.

However, on a year-on-year basis, bottomline fell marginally in first quarter this fiscal when compared to net profit of ₹257 crore recorded in same quarter last fiscal.

Total income down

Total income for the quarter under review decreased to ₹1,693 crore from ₹1,834 crore in the March quarter. In June quarter last fiscal, total income stood at ₹1,872 crore.

Also read: CCI green signals Carlyle Group-led ₹4,000 cr investment in PNB Housing

Commenting on the Q1 financial performance, Hardayal Prasad, Managing Director & CEO, said in a statement, “The second wave of Covid-19 impacted the business performance of the company as compared to last quarter. Despite this, the company recorded healthy profits and margins during the quarter. The company continues to focus on increasing its digital footprints, grow retail business with efficient underwriting and collection models and optimise costs in order to create value for all its stakeholders.”

Published on August 04, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like