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The standalone net profit of Repco Home Finance (RHFL) nearly halved to ₹32.1 crore in the first quarter, against ₹64 crore in the year-ago quarter, due to sharp rise in provisions towards bad loans.
The lender's provision and write-offs jumped to ₹78.3 crore in Q1FY22 as against ₹22.1 crore of provisions in the corresponding quarter last year.
Revenue from operations marginally dropped to ₹320.1 crore (₹337.7 crore).
Loan disbursements grew by 32 per cent year-on-year to ₹239.7 crore in June quarter. The overall loan book of home loan financier stood at ₹11,985.5 crore at the end of June 2021.
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