GIC Housing Finance Q2FY18 standalone net profit rises 22.1% yoy

India Infoline Research Team | October 26, 2017 17:23 IST

GIC Housing Finance Ltd Q2FY18

Standalone Results Q2FY18: (Rs. in crore)

Q2FY18 YoY (%)
NII 99.3 25.4
Net Profit (adjusted) 41.9 22.1

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Accumulate

Reco. Price

515.45

Last updated on

10-Oct-2017



GIC Housing Finance posted its standalone result today for Q2FY18.

NII for the quarter increased by 25.4% yoy to Rs.99.3 crore in Q2FY18 vs Rs.79.2 crore in Q2FY17. This was on the back of robust rise in net operational revenue by 11% yoy to Rs. 274 crore as against slower rise in finance cost by 4% yoy only.

Provisions made on standard and non-performing assets rose 30% to Rs.23.1 crore in Q2FY18 vs Rs. 17.7 crore in previous year corresponding quarter.

Lastly, net profit for the quarter increased by 22.1% yoy to Rs. 41.9 crore vs Rs. 34.3 crore in Q2FY17

Technical View:

GIC Housing Finance Ltd is currently trading at Rs. 498, up by 7.5 points or 1.53% from its previous closing of Rs. 490.50 on the BSE.
The scrip opened at Rs. 489.30 and has touched a high and low of Rs. 502 and Rs. 488 respectively. So far 1,47,093(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 100 DMA.

BSE 402.25 [8] ([1.95]%)
NSE 403.50 [5.60] ([1.37]%)

***Note: This is a NSE Chart

 

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