The net interest margin was healthy at 3.16% in the quarter ended June 2017, compared with 3.38% in the preceding quarter and 2.71% in the corresponding quarter last year. Net interest income for the quarter ended June 2017 increased 64% to Rs 343.60 crore as against Rs 209.2 crore in the same period of the previous year.

Income from operations increased 38% to Rs 1192.15 crore in the quarter ended June 2017. Interest expense moved up 24% to Rs 752.92 crore, while other expenses (including staff cost of Rs 28.92 crore and other expenses of Rs 74.15 crore) increased 37% to Rs 103.07 crore. Ensuing Gross profit advanced 87% to Rs 336.28 crore.

The depreciation rose marginally to Rs 5.08 crore in Q1FY2018 against Rs 4.47 crore in Q1FY2017. The provision and write offs stood higher at Rs 48.06 crore against Rs 27.98 crore in same quarter last year. PBT increased 92% to Rs 283.14 crore.

Effective tax rate eased to 34.75% bps on yoy basis to 34.84%. The profit after tax of the company improved 93% to Rs 184.75 crore in the quarter ended June 2017.

Loan book and disbursements

The AUM of the company surged 50% to Rs 46755 crore end June 2017 over June 2017. The loan portfolio of the company increased 42% to Rs 44003 crore, while the loans sold outstanding increased 916% to Rs 2753 crore end June 2017 over June 2017. The disbursements increased 54% to Rs 7794 crore in the quarter ended June 2017.

The deposits with the company have increased 35% to Rs 10025 crore at end June 2017.

Asset quality

Gross NPA ratio increased to 0.43% at end June 2017 from 0.22% a quarter ago and 0.27% a year ago. Meanwhile, Net NPA ratio also increased to 0.33% at end June 2017 from 0.15% at end March 2017.

In absolute terms, GNPA stood at Rs 187.02 crore and NNPA at Rs 145.21 crore at end June 2017.

Book value of the company stood at Rs 345.9 per share, while adjusted book value was at Rs 337.2 per share at end June 2017.

Annual Financial Performance:

For the year ended March 2017 (FY2017), PNB Housing Finance reported 45% rise in Income from operations at Rs 3907.70 crore. Interest expense moved up 42% to Rs 2643.65 crore, while other expenses increased 43% to Rs 338.65 crore. Ensuing Gross profit increased 54% to Rs 925.55 crore. Depreciation increased 24% to Rs 18.63 crore, while provision and write offs moved up 24% to Rs 102.91 crore. PBT improved 60% to Rs 804.01 crore. Effective tax rate stood at 34.86% FY2017, compared with 35.11% in FY2016. The PAT of the company improved 60% to Rs 523.73 crore in FY2017.