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Reliance Home Finance, a subsidiary of Reliance Capital, reported a 32 per cent increase in second quarter net profit at ₹75 crore, against ₹57 crore in the year-ago period.
Interest income increased 11 per cent year-on-year (y-o-y) to ₹433 crore. Fees and commission income was up 19 per cent y-o-y to ₹19 crore. Other operating income jumped to ₹7 crore from ₹1 crore in the year-ago period.
However, other income was down 74 per cent y-o-y to ₹5 crore.
Disbursements
Finance costs rose about 11 per cent y-o-y to ₹294 crore. Other expenses increased by 27 per cent y-o-y to ₹19 crore. The company, in a statement, said disbursements during the quarter were up 29 per cent y-o-y at ₹2,582 crore. Assets under management rose 17 per cent y-o-y to ₹16,464 crore as of September-end 2018.
“Q2FY19 has been a stable quarter while the liquidity scenario remains under watch,” said Ravindra Sudhalkar, ED & CEO of RHFL.
The company’s shares closed at ₹42.65 apiece, up 4.41 per cent over the previous close on the BSE.
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