Money & Banking

Repco Home Q3 net grows 25%

Chennai | Updated on February 11, 2020

Repco Home Finance has reported a 25 per cent growth in net profit at ₹70 crore for the quarter ended December 31, 2019, against ₹56 crore in the year-ago period. Its net interest income grew 10 per cent to ₹1,312 crore (₹1,190 crore). Total income from operations grew 12 per cent at ₹340 crore against ₹304 crore in the year ago quarter, according to a company statement.

Its sanctioned loans were lower at ₹733 crore when compared to ₹805 crore in December 2018 quarter, a decline of 9 per cent. Disbursements fell 11 per cent at ₹656 crore (₹733 crore). Interest spread expanded to 3.3 per cent from 3.0 per cent. Return on assets and equity stood at 2.4 per cent and 17.3 per cent respectively.

The gross NPA remained 4.2 per cent as of December 2019. The overall loan book rose nine per cent to ₹11,624.9 crore at the end of December 2019. Loans to the self-employed segment accounted for 52.8 per cent of the outstanding loan book.

“We have ended yet another quarter with stellar profitability numbers and ratios, where our focus continued to remain on pricing the risks well. The moderation in asset book growth reflects the tough external environment and all the while our efforts to de-risk the balance sheet,” said Yashpal Gupta, Managing Director and CEO, Repco Home Finance.

Published on February 11, 2020

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