16 May Repco Home Finance Q4 profit rises 6% as asset quality improves
Posted at 15:57h
in Insights
Repco Home Finance reported a 6% year-on-year rise in fourth quarter net profit at Rs 115 crore as compared with Rs 108 crore in the year ago period while its asset quality improved.
The lender’s total income rose 10% at Rs 435 crore against R. 397 crore while net interest income stood at Rs 180 crore growing merely 5%.
Repco’s loan book stood at Rs 14,492 crore at the end of March, up 7% year-on-year with home loans accounting for about three-fourth of the portfolio. The company offers loans only to retail borrowers.
Its gross non-performing assets Ratio fell to 3.3% at the end of March from 4.1% a year back. Net NPA stood at 1.3% against 1.5%.
The company has carried provisions for expected credit losses to the tune
of Rs 433 crore, which is 3% of total loan assets.
Its annual net profit for FY25 stood at Rs 439 crore, registering an 11% rise over Rs 395 crore seen in the preceding fiscal.