Repco Home Finance Q1 net up 14%

Repco Home Finance today reported a growth of 14 per cent in net profit at Rs 45.20 crore for the first quarter ended June. The company’s net profit in the corresponding quarter of the previous fiscal was Rs 39.50 crore.

Repco Home Finance, promoted by government enterprise Repco Bank, also reported an increase of 8 per cent in its income from operations to Rs 265.70 crore for April-June period of 2017-18 as against Rs 246.80 crore a year ago.

The net interest income grew by 14 per cent to Rs 95.90 crore for the period from Rs 84 crore a year ago.

The gross non-performing assets (NPAs) of Repco Home stood at 3.97 per cent as at end of June 2017 while net NPAs were 2.61 per cent.

With 126 branches and 31 satellite centres as on end- June, the company provides home finance services in Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Kerala, Maharashtra, Odisha, Gujarat, West Bengal, Madhya Pradesh, Jharkhand and Puducherry.

Stock of the company closed 3.91 per cent higher at Rs 764.80 on BSE today.

[Source”indianexpress”]