PNB Housing Q1 PBT down 20.4% on sharp dip in NII, lower disbursement

Its net interest margin declined to 2.66% in Q1FY21 from 3.14% in Q1FY20 as it did not securitise part of portfolio in Q1FY21

PNB Housing Finance has posted 20.4 per cent drop in profit before tax (PBT) to Rs 329.48 crore in Q1FY21 on a sharp contraction in net interest income (NII).

Its PBT was Rs 414.03 crore in same quarter of last financial year ended June 2019 (Q1FY20). The lender's net profit declined by 10 per cent to Rs 257.2 crore from Rs 284.5 crore.

Its stock closed five per cent higher at Rs 210.25 per share on BSE.

Its NII for the reporting quarter stood at Rs 487.8 crore, down from Rs 625.5 crore in Q1FY20. The net interest margin (NIM)