PNB Housing Finance Q3 PAT down -18.91% at Rs188.45cr on sharp fall in interest income

21 Jan 2022 , 08:07 PM

PNB Housing Finance Ltd reported -20.74% fall in total revenues for the Dec-21 quarter on consolidated basis at Rs1,495.38cr. On a sequential basis, the revenues were lower for the quarter by -5.55%.

During the quarter, PNB Housing saw a sharp fall in the interest income due to sharply lower yields on loans. The debt equity ratio of the housing finance company stands at 5.61 times.

The asset coverage ratio of the company stood at 1.17. The deal to sell stake in the housing finance company to Carlyle did not go through and was called off.

The consolidated Profit after tax (PAT) for the Dec-21 quarter was down -18.91% at Rs188.45cr. The net worth of the company stands at Rs.9,538cr.

The company reported gross NPAs at 7.64% of the loan book and net NPAs of 4.87% of loan book. PNB Housing had a provision coverage ratio of 57.47% and the capital adequacy was comfortable for the lender at 21.59.

PAT margins were marginally higher from 12.32% in Dec-20 to 12.60% in Dec-21 quarter due to lower revenue base. Sequential net margins were sharply lower.

Financial highlights for Dec-21 compared yoy and sequentially

	PNB Housing
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 1,495.38	₹ 1,886.67	-20.74%	₹ 1,583.32	-5.55%
Net Profit (Rs cr)	₹ 188.45	₹ 232.40	-18.91%	₹ 235.21	-19.88%
Diluted EPS (Rs)	₹ 11.15	₹ 13.82		₹ 13.92
Net Margins	12.60%	12.32%		14.86%