PNB Housing Finance Q2 net rises 33%
PNB Housing Finance Monday reported a jump of 33 per cent in consolidated net profit at Rs 252.99 crore in the second quarter ended September 2018.
It had posted a net profit of Rs 190.05 crore in the corresponding July-September period of 2017-18, the company said in a regulatory filing.
The company is comfortably placed with respect to the asset liability mismatch (ALM) position, PNB Housing said in a separate statement. “In the 0-1 year bucket, we are broadly matched on ALM. Our short term borrowing has reduced from 17.5 per cent in March 2018 to 11.7 per cent in September 2018. On 1-3 year bucket, we are borrowing long term viz external commercial borrowing (ECB) and more sticky public deposits and are comfortable with our mix.
“Further, our borrowing in the last one month represents our strength in the borrowing market as we raised more than Rs 6,000 crore through commercial papers and USD 200 million through ECBs under automatic route,” it said. Total income of the non-banking finance company (NBFC) during the quarter was at Rs 1,808.26 crore, up by 42 per cent from year ago’s Rs 1,274.44 crore.