PNB Housing Finance Gains After Reporting Profit Of Rs 127 Crore In March Quarter

Share price of PNB Housing Finance gained around one per cent on Wednesday, April 28, a day after the company reported a net profit of Rs 127 crore in the January-March quarter of the financial year 2020-21. On Wednesday, PNB Housing Finance opened on the BSE at Rs 375.20, touching an intra day high of Rs 385.45 and an intra day low of Rs 371.50, in the trading session so far. According to a statement shared by the firm, PNB Housing Finance reported a consolidated net profit of Rs 127 crore in the March quarter, compared to Rs 242 crore in the corresponding period of the previous fiscal.

On a sequential basis, the profit came down from Rs 232 crore in the third quarter of the financial year 2020-21. The total revenue during the fourth quarter of fiscal 2020-21 stood at Rs 1,834 crore, compared to Rs 1,952 crore in the corresponding period of the previous fiscal.

PNB Housing Finance's asset quality deteriorated with the gross non-performing assets or NPAs increasing to 4.44 per cent of the gross loans by the January-March quarter, compared to 2.75 per cent in the corresponding period of the fiscal year 2019-20. The Net NPAs rose to 2.43 per cent from 1.75 per cent.

Meanwhile, on the NSE, PNB Housing Finance opened at Rs 375.90, touching an intra day high of Rs 386, and an intra day low of Rs 370.25. It was last trading 0.11 per cent higher at Rs 377.50 on the NSE.

PNB Housing Finance was last trading 0.03 per cent higher at Rs 377 on the BSE.