PNB Housing Finance's Profit Surges by 43%

PNB Housing Finance reported a 43% increase in net profit to Rs 483 crore for the December quarter. The company's total income grew to Rs 1,943 crore, with interest income rising to Rs 1,848 crore. Gross non-performing assets fell to 1.19%, while the capital adequacy ratio slightly declined to 28.8%.

PNB Housing Finance has declared a robust financial performance with a 43% leap in net profit for the December quarter, reaching an impressive Rs 483 crore. This significant rise marks a marked improvement from the Rs 338 crore profit recorded in the same period last year.

The non-banking finance company, backed by Punjab National Bank, saw its total income escalate to Rs 1,943 crore, compared to Rs 1,756 crore during the same quarter of the previous fiscal. A key contributor to this growth was the increase in interest income, which stood at Rs 1,848 crore, up from Rs 1,680 crore a year earlier.

Additionally, PNB Housing Finance successfully reduced its gross non-performing assets to 1.19% as of December 31, 2024, a notable improvement from 1.73% the year before. Despite a slight dip in the capital adequacy ratio to 28.8% from 29.53%, the firm's financial stability remains strong.

(With inputs from agencies.)