Money & Banking

Repco Home Finance Q4 profit falls to ₹48 crore

Our Bureau. Chennai | Updated on July 24, 2020

Repco Home Finance has reported a drop in net profit at ₹48 crore for the quarter ended March 31, 2020, when compared to ₹52 crore in the year-ago period. However, its pre-provisioning profits grew 23 per cent to ₹109 crore when compared to ₹89 crore.

Repco’s net interest income was higher at ₹138 crore against ₹116 crore.

Total income from operations stood at ₹346 crore against ₹308 crore. While sanctions were lower at ₹632 crore when compared to ₹973 crore, disbursements stood at ₹602 crore (₹878 crore).

For the full year ended March 31, 2020, net profit grew by 19 per cent at ₹280 crore against ₹235 crore in FY19.

Net interest income and total income from operations stood at ₹521 crore (₹469 crore) and ₹1345 crore (₹1,195 crore), respectively.

The loan book of the company grew 7 per cent and stood at ₹11,826 crore as on March 31, 2020, up from ₹11037 crore a year-ago.

Gross non-performing assets (GNPA) remained at 4.3 per cent as of March 2020.

The company could not do much lending for two months starting from the mid of March 2020. Most of the branches are now operational except for the ones in the cities/towns observing localised lockdowns. Disbursements restarted gradually in the first week of May, according to a company statement.

Published on July 24, 2020

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