Tuesday, Jun 25 2024 | Time 23:32 Hrs(IST)
Business Economy

PNB Housing Finance net profit up 57 pc to Rs 439cr in Q4

New Delhi, April 29 (UNI) PNB Housing Finance on Monday reported 57.27 per cent year-on-year jump in consolidated net profit at Rs 439.25 crore for January-March quarter (Q4) of the financial year 2023-24.
The housing finance company had posted a net profit of Rs 279.28 crore in the corresponding period of the previous financial year 2022-23.
Net Interest Income (NII) of PNB Housing Finance grew by 7 per cent year-on-year to Rs 632 crore in Q4 of FY24.
The housing finance company said that its operating expenditure increased by 23 per cent year-on-year and 6% quarter-on-quarter to Rs 176 crore in the period under review primarily on account of branch expansion and upgradation of IT infrastructure.
"Net Interest Margin stood at 3.65% in Q4 FY24 as compared to 3.49% in Q3 FY24 and 3.74% in Q4 FY23. Gross Margin, net of acquisition cost, stood at 4.18% in Q4 FY24," PNB Housing Finance said in a press release.
The press release said that PNB Housing Finance's Gross Non-Performing Assets (GNPA) stood at 1.50 per cent as on 31st March 2024 as compared to 3.83 per cent as on 31st March 2023 and 1.73 per cent as on 31st December 2023.
Commenting on the overall financial performance, Girish Kousgi, Managing Director & CEO of PNB Housing Finance said, "During the Financial Year 2023-24, the company made significant progress across various business and financial parameters.
"The completion of a successful fund-raise via Rights Issue underscores the confidence of our shareholders. Moreover, our expansion into high yielding affordable segment and the growth of our retail loan book showcases our commitment towards meeting diverse market needs."
More News

Govt to get about Rs 11000 cr based on day 1 of telecom spectrum auction

25 Jun 2024 | 9:30 PM

New Delhi, June 25 (UNI) The government will get about Rs 11,000 crore from sale of telecom spectrum on Day 1 as five rounds were completed and will continue on Wednesday (tomorrow).

see more..

Flipkart hosts second edition of Glam Up Fest 2024

25 Jun 2024 | 8:44 PM

Mumbai, June 25, (UNI) Flipkart, India’s homegrown e-commerce marketplace, hosted the second edition of its highly anticipated Glam Up Fest 2024 here recently which featured over 3,500 Beauty and Lifestyle influencers and participation from more than 70 top brands across consumer categories.

see more..

Glenmark and IADVL Undertake Awareness Campaign Supporting Vitiligo Patients in India

25 Jun 2024 | 8:26 PM

Mumbai, June 25 (UNI)Glenmark Pharmaceuticals Ltd. a pharmaceutical company, has joined forces with The Indian Association of Dermatologists, Venereologists, and Leprologists (IADVL), to unveil postcards & Calendars aimed at raising awareness, showing empathy and support for individuals living with vitiligo, a skin disorder that affects pigmentation and conducted a painting competition “Empathy in Every Stroke” on World Vitiligo Day, Tuesday.

see more..

RUV 350 launches electric scooter from Rs 1 09 lakh to Rs 1 34 lakh

25 Jun 2024 | 8:11 PM

Mumbai, June 25(UNI)The BGauss RUV350 is an electric scooter, available at a starting price of Rs. 1,09,999 , Rs 1,24,999, and Rs 1,34,999.

see more..

Borzo to move its headquarters to Mumbai

25 Jun 2024 | 8:04 PM

Mumbai, June 25(UNI) Borzo, a global intracity same-day delivery service has announced to move
its headquarters from Amsterdam to Mumbai.

see more..