Chennai: Repco Home Finance Limited has announced financial results for the quarter and year ended 31 March and it said the company’s performance remained resilient even amid uncertain macroeconomic conditions.
For the quarter (Q4), the firm saw net interest income grow three per cent to Rs 116.3 crore and net profits grow 58 per cent to Rs 51.5 crore.
The firm’s loans sanctions surged to Rs 972.8 crore, while loan disbursements stood at Rs 878.1 crore.
Net interest margins and interest spread stood at 4.3 per cent and 2.9 per cent respectively. While, return on assets and equity remained robust at 1.9 per cent and 14.2 per cent respectively.
Performance for the year saw net interest income grow by two per cent to Rs 469.3 crore and net profits grow 17 per cent to Rs 234.6 crore.
Loans sanctions surged to Rs 3,370 crore, registering a growth of nine per cent, while loan disbursements was at Rs 3,091.8 crore, a growth of 10 per cent.
The overall loan book rose 12 per cent to Rs 11,036.8 crore and loan to the self-employed segment accounted for 54.1 per cent of the outstanding loan book and loans against property product accounted for 18.4 per cent of the same.
As for asset quality, the gross non-performing assets (GNPA) improved sequentially to 2.95 per cent as at the end of March from 3.9 per cent as at the end of December 2018.
MD and CEO of Repco Home Finance, Yashpal Gupta, said, “Given the context of macroeconomic and elections related uncertainty, our financial performance meet expectations. Now that a stable government is in place, which is focused on providing affordable housing for all, we expect the demand environment to pick up. As a company, we have taken a number of initiatives and are in the process of taking some more to capture the opportunities that come our way. I now look forward to a fulfilling FY20.”