PNB Housing Finance Ltd's Q3FY19 standalone net profit rises 32% yoy to Rs303cr: In-line with Estimates

The company’s standalone NII stood at Rs558cr, up 8.67% yoy and 11.26% qoq.

Jan 24, 2019 05:01 IST India Infoline Research Team

PNB Housing Finance Ltd Q3FY19

Standalone Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
NII 558 8.7
Net Profit (adjusted) 303 32.0

PNB Housing Finance's Q3FY19 NII grew by 8.7% yoy to Rs558cr against Rs412cr in Q3FY18. It has reported an NIM of 3.06% for the quarter, an increase of 4bps yoy. The housing finance company’s net profit was in line with estimates, up 32% yoy to Rs303cr against Rs229.5cr in the year-ago quarter. 
  • The spread on loans for Q3FY19 stood at 2.56%, similar to Q3FY18 levels.
  • Gross Margin, net of acquisition cost and including fees, for Q3FY19 stood at 3.39% compared to 3.34% for Q3FY18.
  • Disbursements grew 13% to Rs27,517.6cr during M9FY19 from Rs24,455.3cr during M9FY18.
  • Asset under management stood at Rs79,736.6cr as on 31 st December, 2018, from Rs57,668.5cr as on 31st December, 2017 registering a growth of 38% during the period.
  • Housing loans constituted 70% and non-housing loans 30% of the AUM.
  • The loan portfolio rose 28% yoy to Rs70,717.2cr as on 31st December, 2018.

Technical View:

PNB Housing Finance Ltd is currently trading at Rs. 928, up by 25.2 points or 2.79% from its previous closing of Rs. 902.80 on the BSE.
The scrip opened at Rs. 903.55 and has touched a high and low of Rs. 937.70 and Rs. 900.40 respectively. So far 4,23,256 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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