New Delhi: PNB Housing Finance on Thursday registered nearly 12 per cent increase in its net profit at Rs 262.63 crore in quarter ended September 2022 on a double-digit growth in net interest income as well as disbursements. The non-banking finance company had logged a net profit of Rs 235.21 crore in the year-ago period.
Total income rose to Rs 1,683.43 crore in Q2FY23 from Rs 1,586.41 crore in the same period of 2021-22, PNB Housing Finance said in a regulatory filing.
The income earned from interest was up by 6.5 per cent in the quarter to Rs 1,597.54 crore as against Rs 1,499.88 crore in the year-ago period.
While the net interest income, interest earned minus expended, jumped by 29 per cent from a year ago to Rs 649 crore. During the quarter, there was a net positive impact of Rs 109 crore on assigned loans, PNB Housing said.
There was an uptick of nearly 4 per cent in its total expenses during the quarter at Rs 1,343 crore from Rs 1,295.21 crore a year ago period.
Among other key financials, the net interest margin improved to 4.14 per cent in Q2 FY23 as compared to 3.01 per cent in Q2 FY22 and 2.36 per cent in Q1FY23.