Aptus Value Housing posts 21% rise in Q1 net at ₹172 cr

Aptus Value Housing Finance Ltd has reported a 21 per cent rise in its profit after tax at ₹172 crore for the quarter ended June 30, 2024, when compared with ₹142 crore in the year-ago quarter. The company’s net profit growth was supported by business growth, stable asset quality and continuous focus on higher productivity, P Balaji, Managing Director of the company said in a statement.

The company’s net interest income rose 28 per cent at ₹381 crore when compared with ₹297 crore. Profit before tax was higher at ₹222 crore (₹183 crore). Its disbursements saw a marginal growth of 4 per cent at ₹675 crore for the June 2024 quarter against ₹646 crore in the June 2023 quarter. 

During the quarter, the company moved to mobile first lead management software system, which impacted its disbursements in April 2024. However, disbursements were back to normalcy in the following two months clocking 35 per cent growth over the corresponding comparable two-month period, it said. Its gross NPA stood at 1.30 per cent in the June quarter against 1.29 per cent in Q1 of the previous fiscal, while net NPA was 0.98 per cent (0.97 per cent).

“We sustained consistent growth and achieved an AUM growth of 27 per cent y-o-y supported by branch addition of 36 over June 2023, both in existing States and new states of Odisha and Maharashtra, improvement in productivity and increase in ATS (average ticket size). We are confident of pursuing an AUM growth of about 30 per cent in the coming quarters/years, he added.

As of June 30, 2024, the company maintained a liquidity of ₹907 crore including undrawn sanctions of ₹520 crore from various banks. The company is well capitalised with a net worth of over ₹3,818 crore, it added.