Repco Home Finance’s Q2 net up 15% at ₹113 crore

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Repco Home Finance recorded a 15 per cent growth in net profit at ₹113 crore for the quarter ended September 30, 2023, up from ₹98 crore in the same period last year.

Net interest income saw a slight increase to ₹176 crore compared to ₹173 crore in the previous year. Total income grew to ₹428 crore, up from ₹384 crore year-on-year, according to a company statement.

Loan sanctions rose by 8 per cent, totalling ₹926 crore in Q2 of the current fiscal year compared to ₹860 crore in Q2 of the prior year. Disbursements also increased, reaching ₹867 crore, a 9 per cent rise from ₹797 crore.

The gross non-performing assets (NPA) ratio improved to 3.96 per cent as of September 30, 2024, down from 4.93 per cent in the prior year. Net NPA also declined, falling to 1.59 per cent from 2.16 per cent.

As of September 30, 2024, Repco’s loan book totalled ₹13,964 crore, reflecting an 8.1 per cent year-on-year increase from ₹12,922 crore. Assets under management (AUM) stood at ₹13,701 crore as of June 30, 2024.

Of the outstanding loan book, 52 per cent was attributed to the non-salaried segment, with the remaining 48% to the salaried segment. Housing loans made up 74 per cent of the portfolio, while home equity products accounted for 26%. Notably, all loans disbursed by Repco are retail loans. The company’s capital adequacy ratio stood strong at 33.98%.