Aadhar Housing Finance Reports Solid Profit Growth in Q3

Aadhar Housing Finance posted a 17% rise in net profit, reaching Rs 239 crore in Q3. The firm's income and interest income both saw significant increases, while expenses also rose. Assets under management grew by 21%, and gross non-performing assets slightly decreased.

Aadhar Housing Finance has announced a considerable 17% increase in net profit for the December quarter, tallying up to Rs 239 crore. This marks a substantial improvement from the Rs 204 crore profit reported during the same period last year.

The total income for the third quarter of this fiscal year ascended to Rs 785 crore, a notable rise from Rs 659 crore in the corresponding quarter of the previous year, as per the company's regulatory filing. This surge was powered by an increase in interest income, which climbed to Rs 714 crore compared to Rs 579 crore last year.

On the downside, total expenses surged to Rs 478 crore from Rs 398 crore a year earlier. Despite this, gross non-performing assets slightly declined to 1.36% by the end of December 2024, as opposed to 1.40% in the previous year's third quarter. The mortgage firm's assets under management saw a 21% growth, hitting Rs 23,976 crore.

(With inputs from agencies.)