Repco Home Finance Q1 Net Profit Rises 11.2%

Repco Home Finance has registered a 11.2 per cent jump in net profit at Rs 24.81 crore for the first quarter ending June 30, 2014.

It had stood at Rs 22.31 crore during the year ago period, Chennai-based Repco Home Finance said in a statement.

For the financial year ending March 31, 2014, net profit stood at Rs 110.10 crore.

Total income from operations for the quarter ending June 30, 2014 grew to Rs 156.04 crore from Rs 118.65 crore during the corresponding period of the previous year.

For the fiscal ending March 31, 2014, total income from operations were at Rs 534.15 crore.

Loans sanctioned during the quarter ending June 30, 2014 amounted to Rs 481.14 crore as against Rs 357.50 crore in the year ago period.

Disbursements for the quarter grew by 24.18 per cent to Rs 414.60 crore from Rs 333.88 crore registered during the same period of previous year.

There was a 30.58 per cent increase in outstanding loans for the quarter ending June 30, 2014 to Rs 4,892.33 crore from Rs 3,746.71 crore registered in the same period of the previous year.

As of June 30, 2014 total borrowings were at Rs 4,081.51 crore as against Rs 3,057.04 crore in the corresponding quarter of the previous year.

Gross NPA as on June 30, 2014 was at 2.22 per cent, while Net NPA stood at 1.60 per cent during the period, the statement added.