Comments
Aptus Value Housing Finance Ltd has reported a 62 per cent rise in its profit after tax at ₹119 crore for Q1 as compared to ₹74 crore in the year-ago quarter.
Its disbursements for the June 2022 quarter grew 113 per cent to ₹525 crore as compared to ₹247 crore in June 2021 quarter.
“We have built a strong network of 211 branches to deliver quality service to our customers. The company is well-capitalised with a net worth of over ₹3000 crore. As of June 30, 2022, we have maintained a sufficient balance sheet liquidity of over ₹1300 crore, including undrawn sanctions in the form of cash and cash equivalents. With a strong capital base and prudent borrowing practices, we have positive ALM across tenors,” said M Anandan, Chairman & Managing Director, Aptus Value Housing Finance India Ltd, in a statement.
The company’s AUM grew 30 per cent to ₹5519 crore from ₹4254 crore. Return on assets increased by 158 bps to 8.88 per cent from 7.30 per cent in Q1 FY22. However, its gross NPA increased by 70 bps to 1.75 per cent from 1.05 per cent.
The business, in the current quarter, is geared up for strong growth in disbursements. Collection efficiencies have come back to pre-covid levels with considerable improvement in soft buckets.
“We continued to grow consistently and delivered an AUM growth of 30% Year-on-Year. Our ROA and ROE is one of the best in the Industry. Our rating was upgraded to AA- from A+ by CARE during Q1. ICRA has maintained our rating at AA-, said Anandan.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.