Money & Banking

Reliance Home Finance Q2 profit rises 32% at ₹75 crore

Our Bureau Mumbai | Updated on November 01, 2018 Published on November 01, 2018

 

 

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.

Published on November 01, 2018
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