PNB Housing Finance's Profit Soars by 8%

PNB Housing Finance reported a near 8% rise in net profit for the December quarter, reaching Rs 520.35 crore. This increase from the previous year's Rs 483.3 crore is attributed to a rise in interest income. The company's asset quality remained stable with low non-performing assets.

PNB Housing Finance has reported a notable increase in net profit, rising by nearly 8% to Rs 520.35 crore in the December quarter of the current fiscal year, compared to Rs 483.3 crore in the same period last year.

This significant growth is driven by an increase in interest income, which surged to Rs 2,019.39 crore from Rs 1,848 crore, indicating robust loan growth for the non-banking financial company promoted by Punjab National Bank.

Furthermore, the company's asset quality has demonstrated resilience, with gross non-performing assets maintaining stability at 1.04% as of the December quarter.

(With inputs from agencies.)