PNB Housing Finance Ltd (PNBHFL) on Monday reported a 57.27 per cent increase in consolidated net profit for the quarter ended March 31, 2024 at ₹439.25 crore (₹279.28 crore).

In the December 2023 quarter, consolidated net profit stood at ₹338.44 crore.

Total income for the quarter under review increased 11 per cent to ₹1813.97 crore (₹1637.72 crore). PNBHFL had recorded total income of ₹1756 crore in the December 2023 quarter.

For the entire fiscal 2023-24, PNBHFL has recorded a 44 per cent increase in consolidated net profit at ₹1,508.01 crore (₹1,046 crore).

Commenting on the latest financial performance, Girish Kousgi, MD and CEO, PNBHFL said “ During the financial year 2023-24, the company made significant progress across various business and financial parameters. The completion of a successful fund raise via rights issue underscores the confidence of our shareholders. 

Moreover, our expansion into high yielding affordable segment and the growth of our retail loan book showcases our commitment towards meeting diverse market needs.”

He also said that PNBHFL has witnessed a remarkable improvement in the asset quality, which reduced by 57 per cent y-o-y.

“As we move ahead, we look forward with optimism that our fundamentals position us well to achieve the desired growth and profitability,“ Kousgi said.