Latest News | PNB Housing Finance Profit Rises 43 Pc to Rs 483 Cr in Q3

New Delhi, Jan 21 (PTI) PNB Housing Finance on Tuesday reported a 43 per cent jump in net profit to Rs 483 crore for the December quarter.

The non-banking finance company, promoted by Punjab National Bank, had earned Rs 338 crore in the same quarter a year ago.

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Total income during the third quarter of the current fiscal year grew to Rs 1,943 crore from Rs 1,756 crore in the year-ago period, PNB Housing Finance said in a regulatory filing.

During the quarter, interest income improved to Rs 1,848 crore as compared to Rs 1,680 crore in the same period a year ago.

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Total expenses increased marginally to Rs 1,327 crore as against Rs 1,316 crore a year earlier.

Gross non-performing assets declined to 1.19 per cent as of December 31, 2024, compared to 1.73 per cent at the end of the third quarter of the previous fiscal year.

The mortgage firm has recovered Rs 53 crore from retail written-off pool in the quarter under review, it said.

The capital adequacy ratio declined to 28.8 per cent from 29.53 per cent at the end of December 2023, it added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)