PNB Housing Finance Q1 net jumps 93% on robust interest income – ET RealEstate

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New Delhi: PNB Housing Finance on Wednesday reported a jump of 44% in its net profit at Rs219.20 crore in the last quarter ended March of 2017-18. The company had made a net profit of Rs152.4.

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PNB housing finance limited (PNBHFL) is an Indian public limited housing finance company (HFC), headquartered in New Delhi with branches in major cities across India. The company is promoted by Punjab National Bank and is registered with state owned bank and regulation authority of India – National Housing Bank (NHB).

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PNB Housing Finance in it’s unaudited financial results for quarter ending June 2018 posted net interest income at Rs 432.8 crores, a growth of 28% against Rs 339.3 crores that it posted in the.

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The housing finance industry continued to show a high growth rate during the year mainly on account of improved standards of living, urbanisation, a desire for home ownership and easy availability of credit at affordable rates of interest and opportunity for tax saving in respect of interest payment on housing loans.

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PNB Housing Finance Q1 net jumps 93% on robust interest income. PNB Housing Finance today reported a 93 per cent jump in net profit to Rs 184.80 crore for the first quarter of the current fiscal, mainly driven by robust earnings in core business. The company’s net profit stood at Rs 95.90 crore in April-June quarter of 2016-17.

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Adjusted operating earnings before interest, tax, depreciation and amortisation (EBITDA) of 1.40 billion francs in the fourth quarter came in below the 1.45 billion average estimate in a Reuters poll.