Aptus Value Housing Sees Profit Surge Amid Rising Expenses

Aptus Value Housing Finance India Ltd reported a 22% increase in net profit reaching Rs 182 crore for Q2 2024, compared to Rs 148 crore last year. Despite higher expenses and a slight rise in NPAs, AUM stood strong at Rs 9,679 crore. An interim dividend was declared.

Aptus Value Housing Finance India Ltd announced a notable 22% surge in net profit for the second quarter of 2024, totaling Rs 182 crore. This marks a substantial increase from the Rs 148 crore reported in the same quarter last year, as revealed in a regulatory filing.

The company's total income climbed to Rs 324 crore, up from Rs 277 crore over the previous year. However, expenses also saw an uptick, rising to Rs 147 crore compared to Rs 127 crore in the year-ago period.

Despite these rising costs, the Assets Under Management reached Rs 9,679 crore by September 2024. There was a minor increase in gross Non-Performing Assets, now at 1.25% of gross loans. The company's board approved an interim dividend of Rs 2/share for the financial year 2024-25.

(With inputs from agencies.)