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Repco Home Finance rallies after Q4 PAT climbs 21% YoY
15-May-24 14:52Hrs IST

Profit before tax (PBT) climbed 23.38% year on year (YoY) to Rs 138.67 crore in the quarter ended 31 March 2024.

Net interest income stood at Rs 172.3 crore, up 11% YoY while net interest margin was constant on YoY basis at 5.1%.

Loans sanctions stood at Rs 978 crore in March 2024 quarter, registering a growth of 1.24% YoY. Loan disbursements stood at Rs 895 crore, registering a growth of 7.19%. Interest spread remained healthy at 3.3%.

The overall loan book stood at Rs 13,513.4 crore at the end of March 2024. Loans to the self-employed segment accounted for 51.4% of the outstanding loan book and loans for salaried segment accounts for the balance of the book.

Housing loans accounted for 74.7% of the loans while home equity products accounted for 25.3% of the outstanding loan book. 100% of the loans given by the company are retail loans to individuals.

The gross NPA stood at Rs 552 crore as on 31 March 2024 as against Rs. 719 crore as of 31 March 2023.

The gross non-performing assets (GNPA) ratio stood at about 4.08% and Net NPA ratio stood at about 1.46% of the loan assets as of 31 March 2024.

On a full year basis, the standalone net profit jumped 33.31% to Rs 394.70 crore on 18.76% rise in revenue from operations to Rs 1,524.52 crore in FY24 over FY23.

As required under IND AS, the company has carried provisions for expected credit losses to the tune of Rs 518 crore or 4% of total loan assets. The stage-3 assets carry a coverage ratio of 65.2%.

The capital adequacy ratio stood provisionally at 31.9%. The minimum capital adequacy ratio prescribed by the National Housing Bank is 15%.

Meanwhile, the board recommended a dividend of Rs 3 per share for the financial year 2023-24, subject to approval of the shareholders.

As at 31 March 2024, Repco Home Finance had a total network of 168 branches and 44 satellite centers (212 in total), spread across Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Kerala, Maharashtra, Odisha, Gujarat, West Bengal, Madhya Pradesh, Jharkhand, Rajasthan and the Union Territory of Puducherry.

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