PNB Housing reports 37% yoy decline in NII at Rs593 crore in Q4FY22; stock trades flat

29 Apr 2022 , 11:17 AM

PNB Housing Finance Limited announced the consolidated audited financial results for the quarter and financial year ended March 31, 2022.

The company informed that for Q4FY22 Loan Assets grew to Rs56,889 crore as of March 31, 2022, against Rs56,798 crore as on December 31, 2021.

Company’s Retail Gross NPA declined by 27% QoQ to Rs1,771 crore. Capital Risk Adequacy Ratio stood at 23.4% as of March 31, 2022, of which Tier I capital was 20.7%.

Net Interest Income for FY22 stood at Rs1,869 crore as against Rs2,322 crore in FY21, registering a decline of 20% yoy. During Q4FY22. Net interest Income was reported at Rs377 crore as compared to Rs593 crore in the previous corresponding quarter, down by 37% yoy.

During FY21-22, there is a net income reversal of Rs217 crore on derecognized loans due to the unwinding impact of Spread contraction and run off whereas, during FY20-21, there was a net positive impact of Rs178 crore on derecognized loans due to falling in assignees’ MCLR.

For FY22, Profit after Tax is reported at Rs836 crore against Rs930 crore, registering a decline of 10% yoy. During Q4FY22, PAT stood at Rs170 crore, up by 33% yoy as compared to Rs127 crore in the previous corresponding quarter.

Net Interest Margin during Q4FY22 stood at 2.3% as compared to 3.3% in Q4FY21. For FY22, Net Interest Margin stood at 2.8% as against 3.2% in FY21.

The disbursements during FY21-22 stood at Rs11,246 crore as compared to Rs10,445 crore in FY20- 21 registering an increase of 8% yoy. Retail disbursements were 97% of total disbursements in FY21-22.

Asset under Management (AUM) is at Rs65,977 crore as of March 31, 2022, with Retail book at 89% of the AUM compared to 84% as on March 31, 2021. Corporate AUM declined by 39% yoy to Rs7,159 crore as on March 31, 2022, as compared to Rs11,786 crore as on March 31, 2021.

Loan Assets as of March 31, 2022, registered growth despite a sell-down/accelerated prepayment of Rs370 crore in corporate book. The Loan Asset stood at Rs56,889 crore as on March 31, 2022, as compared to Rs56,798 crore as on December 31, 2021. Retail loans are at Rs49,730 crore as on March 31, 2022, and against Rs49,036 crore as on December 31, 2021.

PNB Housing Finance Ltd is currently trading at Rs389.50 down by Rs1.4 or 0.36% from its previous closing of Rs390.90 on the BSE. The scrip opened at Rs395 and has touched intraday high and low of Rs399 and Rs385.70 respectively.