Aptus Value Housing Finance Ltd’s profit increased 19 per cent at Rs 142.25 crore for the quarter ended June 30, 2023, compared to Rs 118.83 crore in the corresponding quarter last year. Revenues were up 98 per cent at Rs 296.80 crore, compared to Rs 233 crore last year. Sequentially, profits were higher by 5 per cent, compared to Rs 135.19 crore in the previous quarter.
According to an ICICI Securities report, Aptus Value Housing Finance’s RoE improved 16.9 per cent in Q1FY24, one of the highest within the AHFC (Affordable Housing Finance Company) space, compared to 16.3 per cent in Q4 FY23 and 15.9 per cent in Q1 FY23. This improvement in RoE is attributed to steady AUM (Assets Under Management) growth, which increased by 6 per cent QoQ (Quarter over Quarter).
In Q1 FY24, profit after tax (PAT) at Rs 140 crore, marked a 20 per cent YoY growth and 5 per cent QoQ increase, on the back of a decrease in credit costs to 14 basis points (bps) from 48 bps in the previous quarter (Q4FY23). Additionally, staff costs reduced by 8 per cent QoQ. However, there was a 20 basis point QoQ increase in the cost of borrowing, reaching 8.3 per cent. Despite this, Aptus limited the spread contraction to only 5 bps QoQ, maintaining it at 8.85 per cent, due primarily to a 15 bps QoQ rise in asset yields.”
The shares went up by 1.01 per cent to Rs 266 at 10.54 am on BSE. At 12.12 pm, the stock was trading at Rs 266, a gain of 1.20 per cent.