Gruh Finance’s net profit increased to Rs34.35 crore in September quarter on 25% growth in its sanctioned loans
Gruh Finance Ltd, a subsidiary of Housing Development Finance Corp (HDFC) reported a net profit of Rs34.35 crore for the quarter ended September 2013, compared with Rs27.21 crore last year.
For the three months ended September, the company’s revenues grew to Rs210.50 crore from Rs156.98 crore for the same period last year. During the second quarter, its total loan disbursements increased 25% to Rs1,197.15 cores from 989.96 crore same period a year ago.
The company’s capital adequacy ratio (CAR) stood at 17%.
Gruh Finance said its total loan assets increased to Rs6,142.90 crore for the second quarter, a growth of 32%. The company’s gross non-performing assets (GNPA) stood at Rs24.93 crore, or 0.41% of its loan assets, compared to last year’s Rs27.88 crore.
On Friday, Gruh Finance closed 1.25% down at Rs221.35 on the BSE, while the benchmark S&P BSE Sensex ended the day 256 points up at 20,529.
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