 "Gruh Finance hits record high post Q2 results")
Gruh Finance hit a record high of Rs 370, up 4% on the BSE in intra-day trade, after the housing finance company reported 20% year on year (YoY) rise in net profit at Rs 61.98 crore for the second quarter ended September 30, 2016 (Q2FY17). The company had registered a profit of Rs 51.7 crore in the same quarter last fiscal.
Total revenue from operations grew 17.8% YoY to Rs 367 crore for the quarter under review against Rs 312 crore in the corresponding quarter of previous fiscal.
Gruh Finance said its loan assets have increased from Rs 9,913 crore as September 30, 2015 to Rs 12,089 crore as on September 30, 2016 registering a growth of 22%.
The aggregate non-performing assets (NPA) of the company are 0.62% of the loan assets against 0.58% in a year ago quarter. The net NPA are 0.29% of the loan assets against 0.27%.
Gruh Finance, a subsidiary of Housing Development Finance Corporation (HDFC), offers affordable housing loans in the rural and semi urban locations.
The counter has seen huge trading volumes with nearly 1.1 million shares changing hands on the BSE via block deal at around 10:00 am.
At 10:14 am, the stock was trading flat at Rs 357 on the BSE, as compared to 0.89% decline in the S&P BSE Sensex. A combined 2.66 million shares representing 0.73% of total equity of Gruh Finance changed hands on the BSE and NSE so far.
Total revenue from operations grew 17.8% YoY to Rs 367 crore for the quarter under review against Rs 312 crore in the corresponding quarter of previous fiscal.
Gruh Finance said its loan assets have increased from Rs 9,913 crore as September 30, 2015 to Rs 12,089 crore as on September 30, 2016 registering a growth of 22%.
The aggregate non-performing assets (NPA) of the company are 0.62% of the loan assets against 0.58% in a year ago quarter. The net NPA are 0.29% of the loan assets against 0.27%.
Gruh Finance, a subsidiary of Housing Development Finance Corporation (HDFC), offers affordable housing loans in the rural and semi urban locations.
The counter has seen huge trading volumes with nearly 1.1 million shares changing hands on the BSE via block deal at around 10:00 am.
At 10:14 am, the stock was trading flat at Rs 357 on the BSE, as compared to 0.89% decline in the S&P BSE Sensex. A combined 2.66 million shares representing 0.73% of total equity of Gruh Finance changed hands on the BSE and NSE so far.