Money & Banking

Repco Home Finance Q1 net profit halves to ₹32.1 crore

Our Bureau. Chennai | Updated on August 13, 2021

Revenue from operations marginally dropped to ₹320.1 crore

The standalone net profit of Repco Home Finance (RHFL) nearly halved to ₹32.1 crore in the first quarter, against ₹64 crore in the year-ago quarter, due to sharp rise in provisions towards bad loans.

The lender's provision and write-offs jumped to ₹78.3 crore in Q1FY22 as against ₹22.1 crore of provisions in the corresponding quarter last year.

Revenue from operations marginally dropped to ₹320.1 crore (₹337.7 crore).

Loan disbursements grew by 32 per cent year-on-year to ₹239.7 crore in June quarter. The overall loan book of home loan financier stood at ₹11,985.5 crore at the end of June 2021.

 

Published on August 13, 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