Gruh Finance Q1FY17 standalone net profit grows 20% yoy to Rs.60.18 crore

India Infoline News Service | Mumbai | July 18, 2016 19:19 IST

Its net interest income came in at Rs 126.02 crore declining 18.92 % qoq but rising 18.26 % yoy.

Gruh Finance, home loan finance experts, reported standalone net profit of Rs 60.18  crore for the quarter ended June 30th 2016, declining 31.47 % qoq but rising 19.62 % yoy. Its net interest income came in at Rs 126.02 crore declining 18.92 % qoq but rising 18.26 % yoy. The company’s provisions at Rs.12.54 crore grew by 105.5% qoq and 3.81% yoy respectively.
Gruh Finance Q1: Lower sales, higher provisioning dents profit:

Gruh Finance's profits declined 31.47% qoq, mainly due to decline in revenue from operations. Further, higher provisioning and finance cost also impacted the bottom line. The company's provisioning more than doubled to Rs.12.54 crore for the quarter, while finance cost rose to Rs.224.10 crore for the quarter, rose by 4.19% qoq and 17.83% yoy.

During the quarter ended June 30, 2016, loan assets increased from Rs. 9,329 crore as on June 30,2015 to Rs. 11,544 crore as on June 30,2016, registering a growth of 24%.Aggregate NPAs of the company stood at 0.56% of the loan assets as against 0.52% of the loan assets as on June 30,2015.

Standalone EPS for the quarter stood at Rs 1.65.

Stock commentary:

Gruh Finance ended at Rs. 299.6, up by Rs. 1.15 or 0.39% from its previous closing of Rs. 298.45 on the BSE.
The scrip opened at Rs. 301.55 and touched a high and low of Rs. 306.7 and Rs. 296 respectively. A total of 495752(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 10896.34 crore.
The BSE group 'A' stock of face value Rs. 2 touched a 52 week high of Rs. 301 on 15-Jul-2016 and a 52 week low of Rs. 219 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 301 and Rs. 281.9 respectively.
The promoters holding in the company stood at 58.59 % while Institutions and Non-Institutions held 17.46 % and 23.95 % respectively.
The stock traded above its 50 DMA.

***Note: This is a NSE Chart



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