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PNB Housing Finance Limited (PNBHFL) has reported a 65 per cent year-on-year increase in net profit in the fourth quarter ended March 31, 2023 at ₹279 crore. For the entire 2022-23 fiscal, PNB Housing Finance’s bottom line came in at ₹1,046 crore, up 25 per cent over net profit of ₹836 crore recorded in previous fiscal.
For the quarter under review, net interest income improved by 57 per cent year-on-year. In fiscal 2022-23, net interest income stood at ₹2,346 crore, registering a 26 per cent increase over ₹ 1,869 crore in the previous fiscal, PNBHFL said in a filing with the stock exchanges.
Also read: SBI’s Q4 net profit zooms 83% to a record ₹16,695 crore
Commenting on the financial performance, Girish Kousgi, Managing Director & CEO, PNBHFL said, “We are pleased to report that this fiscal year has been incredibly eventful for us. After 13 quarters, we have achieved the highest retail disbursement and loan asset as an outcome of our ongoing efforts to build the retail business.”
Referring to the recent rights issue, which got oversubscribed 1.21x times, Kousgi said this demonstrates the investors’ confidence in the company. The infusion of capital will enable the company to capitalise on the available growth opportunities, he added. PNBHFL had recently completed its rights issue of ₹2,493.76 crore.
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