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PNB Housing Finance (PNBHFL) has reported a 51 per cent increase in consolidated net profit for the quarter ended March 31, 2019, at ₹379.8 crore (₹251.6 core).
For the quarter under review, net interest income grew 13 per cent to ₹609.7 crore (₹540.8 crore).
The board of directors has recommended a final dividend of ₹9 per equity share of ₹10 each.
For the entire fiscal 2018-19, PNBHFL’s net profit grew 42 per cent to ₹1,191.5 crore (₹841.2 crore).
Commenting on the performance of the bank, Sanjaya Gupta, Managing Director, said: “FY18-19 was a challenging year with tight liquidity, which impacted the overall Indian financial and real estate sectors. Amid such environment, we continued our focus on maintaining adequate liquidity, balanced ALM, efficient operations, and robust asset quality.
“This resulted in double-digit growth across all the businesses and financial vectors. Our PAT for the year crossed a landmark of ₹1,100 crore for the financial year 2018-19. We would continue to maintain a balanced approach to business, with focus on asset quality, and improving profitability.”
Net interest margin for the fourth quarter stood at 3.18 per cent, compared to 3.59 per cent in the same quarter last year.
Gross non-performing assets stood at 0.48 per cent of the loan assets as on March 31, 2019, compared to 0.33 per cent as on March 31, 2018.
Net NPA stood at 0.38 per cent of the loan assets as on March 31, 2019, against 0.23 per cent as on March 31, 2018.
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