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PNB Housing Finance Limited (PNBHFL) on Thursday reported a 19 per cent decline in net profit for the quarter ended December 31, 2021 at ₹188 crore as compared to ₹232 crore recorded in same quarter in previous fiscal.
Net interest income for the quarter under review declined 26 per cent to ₹439 crore (₹590 crore). Operating profit saw a decline of 30 per cent at ₹383 crore (₹550 crore). Net interest margin stood at 2.7 per cent compared to 3.2 per cent.
For the nine months ended December 31, 2021, the company reported a net profit of ₹667 crore, down 17 per cent over net profit of ₹803 crore recorded in same period in previous year.
Commenting on the performance, Hardayal Prasad, Managing Partner & CEO, PNBHFL, said in a statement, “The company continues to focus on retail segment and in order to enhance Unnati business, has opened 13 new locations during the quarter. Further 25 new Unnati locations are planned to be operationalised by March 2022. Under Project Ignite, a number of initiatives are implemented during the quarter and the outcome is expected to be visible in the coming quarters.”
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