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Repco Home Finance shares zoomed 10 per cent in the early trade on Monday to touch a 52-week high. The share price rally comes after the company posted a 43 per cent growth in its first quarter net profit last week.
Shares of Repco Home Finance, which closed at ₹334 on Friday, rallied 10 per cent to touch an intra-day and 52-week high of ₹369 on NSE. The shares are currently trading at ₹354, 6 per cent higher than Friday’s closing price.
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On Friday, the Chennai-based lender posted a 43 per cent growth in its first quarter net profit at ₹89.1 crore as against a net profit of ₹62.1 crore for the same quarter of the previous fiscal. Total income from operations rose 21 per cent year-on-year to ₹365 crore (₹302 crore) in Q1FY24. Of which, interest income stood at ₹162 crore (₹137 crore).
Total disbursements of the bank stood at ₹684 crore during the first quarter, slightly higher than ₹642 crore of disbursements in the year-ago quarter.
The overall loan book stood at Rs 12,655 crore at the end of June 2023. Loans to the non-salaried segment accounted for 51.8 per cent of the outstanding loan book and loans for salaried segment accounts for the remaining loan book. Housing loans accounted for 77 per cent of the total loans while home equity products accounted for 23.1 per cent of the outstanding loan book.
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