Net interest income rose 1.8% to Rs 661 crore in Q2 FY24 from Rs 649 crore in Q2 FY23 while net interest margin slipped to 3.95% in Q2 FY24 as compared to 4.14% for Q2 FY23.

Pre-provision operating profit declined 5% YoY to Rs 552 crore during the quarter ended 31 March 2023.

Operating expenditure increased by 24% year on year to Rs 168 crore during September quarter.

The disbursements during Q2 FY24 stood at Rs 4,180 crore, registering an increase of 16.3% YoY. Retail disbursements were up 18.1% at Rs 4,165 crore in Q2 FY23.

Asset under management (AUM) grew by 2% YoY to Rs 67,415 crore as on 30 September 2023.

Gross non-performing assets (NPA) was at 1.78% as on 30 September 2023 as compared to 6.06% as on 30 September 2022 and 3.76% as on 30 June 2023.

Net NPA stood at 1.19% as on 30 September 2023. NNPA in Retail segment is at 1.20% and in Corporate segment at 0.95%.

The company's CRAR, stood at 30.38% as on 30 September 2023, of which Tier I capital is 28.50% and Tier II is 1.88% as compared 24.07% as on 30 September 2022, of which Tier I capital was 21.79% and Tier II was 2.28%.

The company has 200 branches / outreach locations. Affordable business presence expanded to 89 branches/outreaches as on 30 September 2023.

Girish Kousgi, managing director & CEO said: “Our consistent efforts have enabled us to resolve and fully recover a large corporate account, which further aided in reducing our GNPA below 2% to 1.78% as on 30 September 2023. We have also made significant progress in our affordable housing portfolio over the last 3 quarters, and are on track to meet our commitments. Our ROA stood at 2.14% annualised for FY23-24.

As we look forward, we are confident of our ability to maintain this momentum and continue the growth trajectory in the fiscal year. We will continue to strive for excellence, leverage available market opportunities and work towards achieving stronger performance.”

PNB Housing Finance is a deposit-accepting housing finance company, with second largest deposits outstanding within housing finance companies. The company provides housing loans to individuals for purchase, construction, repair, and upgrade of houses.

The scrip declined 1.06% to Rs 710.70 on the BSE.