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PNB Housing Finance reports Rs 130 crore net profit in fourth quarter


Mortgage lender reported Rs 130 crore net profit for the fourth quarter to March 31, 2021 against a net loss of Rs 263 crore in the year ago period, on account of sharp reduction in expenses even as asset quality deteriorated.

The lender’s business volume shrunk while business prospects for the next quarters remain “highly unpredictable” following the severe second wave of coronavirus, the company said in a notice to stock exchanges.

Its loan assets saw a 8% drop to Rs 62,256 crore at the end of FY21 from Rs 67,571 crore a year back. Total income fell 5.7% at Rs 1815 crore against Rs 1925 crore. Expenses for the quarter was Rs 1641 crore against Rs 2277 crore in the year ago period. Its borrowings fell 12% to Rs 59,942 crore from Rs 68,216 crore in tandem with fall in business volume.

Its gross non-performing assets (NPA) ratio was at 4.44% as against 2.75% for the same period. Net NPA was 2.43% as against 1.75%.

The lender refrained itself from recommending dividend for FY21 to conserve capital.



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