PNB Housing Finance reports 32 pct rise in net profit during Q3

PNB Housing Finance Thursday reported a 32 per cent rise in consolidated net profit at Rs 303 crore in the third quarter ended December 2018. Its net profit was Rs 229.5 crore in the corresponding quarter a year ago, PNB Housing Finance said in a statement.

Total income of the housing finance company rose to Rs 2,078.46 crore as compared to Rs 1,416.21 crore in the same period a year ago. Net interest margin increased to 3.06 per cent as against 3.02 per cent for the third quarter of the previous fiscal.

Gross non-performing assets (NPAs) rose to 0.47 per cent of the assets as compared to 0.42 per cent in the same period a year ago. At the same time, net NPAs widened 0.37 per cent from 0.31 per cent. Total borrowings stood at Rs 69,165.6 crore as on December 2018 as against Rs 50,751.0 crore at the end of the third quarter of 2017-18, registering a growth of 36 per cent.