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PNB Housing Finance hits 5% lower circuit after Q3 PAT down 19%

PNB Housing Finance hits 5% lower circuit after Q3 PAT down 19%

PNB Housing Finance hits 5% lower circuit after Q3 PAT down 19%
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By CNBCTV18.COMJan 21, 2022 10:29:38 AM IST (Published)

Shares of PNB Housing Finance were locked in a 5 percent lower circuit during early morning trade on Friday after the company reported a 19 percent year-on-year (YoY) fall in its Q3 net profit due to a rise in gross non-performing assets (GNPA).

Shares of PNB Housing Finance were locked in a 5 percent lower circuit during early morning trade on Friday after the company reported a 19 percent year-on-year (YoY) fall in its Q3 net profit due to a rise in gross non-performing assets (GNPA).

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At 10 am, shares of PNB Housing Finance were down 24.35 points or 5 percent at Rs 463 on the BSE.
PNB Housing Finance reported a net profit after taxes (PAT) of Rs 651.96 crore and a net profit margin of 13.78 percent for the quarter ended December 31, 2021. In its quarterly earnings report, the company reported gross non-performing assets (GNPAs) of 7.64 percent and net NPAs of 4.87 percent.
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Overall, the results were disappointing, as nearly every metric fell in the latest compared to the second quarter of the fiscal.
The company reported total revenue from operations at Rs 1,482.23 crore, a quarter-on-quarter decrease of 5.55 percent from Rs 1,569.35 crore.
According to the report, the company's net profit after tax for Q3FY22 stood at Rs 183.69 crore, which was down a sharp 21.27 percent QoQ from Rs 233.31 crore reported in Q2FY22.
PNB Housing Finance's total comprehensive income witnessed a 14.97 percent fall from Rs 244.86 crore in the July-September quarter to Rs 208.19 crore in the latest quarter.
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