Aadhar Housing Q1 net profit rises 18% to Rs 237 crore despite higher provisions
Aadhar Housing Finance posted an 18.5% YoY rise in Q1 net profit to ₹237 crore on a 19.4% income increase, despite higher provisions and a slight NIM dip. Disbursements surged 32%, and AUM grew 22% YoY.
By Atmadip Ray, ET Bureau |
Agencies
Aadhar Housing's Q1 profit rose 18.5% YoY to ₹237 crore, driven by income growth, with AUM and disbursements rising despite higher provisions and lower margins.
Aadhar Housing Finance earned a net profit of Rs 237 crore in the first quarter of the fiscal, up 18.5% over Rs 200 crore in the year-ago period, while its bad loan provisions increased.
The quarterly net profit was on a total income of Rs 851 crore, which rose 19.4% year-on-year against Rs 713 crore, the company's stock exchange filing showed.
Its net interest margin for the quarter was 8.8%, 10 basis points lower year-on-year.
The company made a provision of Rs 27 crore for the quarter under review. It had set aside Rs 19 crore in the year ago period as provisions.
The lender's assets under management grew 22% year-on-year to Rs 25531 crore at the end of June. Its quarterly loan disbursement stood 32% higher year-on-year at Rs 8192 crore.
Its gross non-performing assets ratio stood at 1.34% at the end of June, merely 3 basis points higher than what it was a year back.
The quarterly net profit was on a total income of Rs 851 crore, which rose 19.4% year-on-year against Rs 713 crore, the company's stock exchange filing showed.
Its net interest margin for the quarter was 8.8%, 10 basis points lower year-on-year.
The company made a provision of Rs 27 crore for the quarter under review. It had set aside Rs 19 crore in the year ago period as provisions.
The lender's assets under management grew 22% year-on-year to Rs 25531 crore at the end of June. Its quarterly loan disbursement stood 32% higher year-on-year at Rs 8192 crore.
Its gross non-performing assets ratio stood at 1.34% at the end of June, merely 3 basis points higher than what it was a year back.
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