PNB Housing Finance slumped 10.96% to Rs 482.85, extending losses for second consecutive session after weak Q3 results.
On a consolidated basis, PNB Housing Finance's net profit fell 21.8% to Rs 237.02 crore in Q3 December 2019 as against Rs 302.97 posted in Q3 December 2018. Net sales declined 0.2% to Rs 2,074.79 crore in Q3 December 2019 as against Rs 2,078.46 crore reported in Q3 December 2018.
The result was announced at the fag end of market hours yesterday, 23 January 2020. The stock fell 5.01% to end at Rs 542.30 on BSE yesterday. The stock has shed 15.42% in two sessions from its closing high of Rs 570.90 on 22 January 2020.
Loan assets fell 2% to Rs 69,194 crore as on 31 December 2019 from Rs 70,717 crore as on 31 December 2018.
Net Interest Income (NII) increased by 1.41% to Rs 566.10 crore in Q3 December 2019 as against Rs 558.20 crore in Q3 December 2018. Net Interest Margin (NIM) for Q3 December 2019 stood at 2.98% as compared to 3.06% for Q3 December 2018.
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Gross Non-performing assets (GNPA) stood at 1.75% of the loan assets as on 31 December 2019 as against 0.47% as on 31 December 2018. Net Non-performing assets (NNPA) stood at 1.25% of the loan assets as on 31 December 2019 as against 0.37% on 31 December 2018.
Asset under Management (AUM) is at Rs 86,297 crore as on 31 December 2019 moved from Rs 79,737 crore as on 31 December 2018, registering a growth of 8% Y-o-Y.
Commenting on the performance, Sanjaya Gupta, managing director, said, "Considering the external market scenario, the Company focussed towards conserving Tier 1 Capital, Liquidity, ALM, resolution of corporate loan book accounts and capital raise. As a result, the Capital adequacy ratio expanded to 17.06% and gearing improved to 8.47% as on 31 December 2019. Company also maintained healthy liquidity of Rs 9,258 crore as of 31 December 2019. While maintaining muted disbursements for rest of the current fiscal, we would continue to focus on raising Tier-1 capital, maintain adequate liquidity, resolution of corporate accounts and further reduce gearing levels."
PNB Housing Finance is a deposit taking housing finance company.
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