Following strong Q4 results, Repco Home Finance’s share price rose by up to 8.5% on the BSE, hitting an intraday high of 525 pounds per share.
The company reported the highest asset quality in the fourth quarter of fiscal 2024 compared to the previous 12 consecutive quarters.
The housing finance company’s profit after tax (PAT) for the quarter ended March 31, 2024 was Rs 108.1 crore, 32% higher than Rs 82.1 crore in the year-ago period. Continuing, the net profit increased by 8.75% from his Rs 99.40 crore in the previous quarter.
In its earnings report released on Tuesday, Repco Home Finance reported double-digit growth in net interest income (NII) of 11.4% on a year-on-year (y-o-y) basis, against Rs 154.7 million. , amounted to 172.3 million rupees. In the March quarter of 2023, there was a slight increase of 0.2% in the fourth quarter of FY2024 compared to the previous quarter.
The company’s other income grew steadily to Rs 4.6 billion in the last quarter of FY24, up 35.3% YoY, while operating expenditure also rose 27.5% YoY to Rs 48.2 million.
However, the clear highlight was that Repco Home Finance’s gross non-performing assets (GNPA) ratio in Q4FY24 was 4.1%, the lowest in the last 12 quarters.
The figure was 4.7% in the same quarter of FY23, while net NPAs (NNPAs) also declined to 1.5% in the March 2024 quarter from 1.9% in the year-ago period.
GNPA for the quarter under review stood at Rs 551.6 million, down 10.8% year-on-year from Rs 618.2 million in the year-ago period, while net NPAs for the period further declined by 22.25% year-on-year to Rs 191.8 million. did.
The company’s assets under management (AUM) increased by 8.55% year-on-year to Rs 108.1 crore during January-March 2024, and by 8.75% quarter-on-quarter.
Shares of Repco Home Finance Ltd. were trading 4.55 per cent higher at Rs 503 per share on the BSE at 1:30 pm.
