PNB Housing Finance Shares Soar on Strong Profit Growth
Shares of PNB Housing Finance surged by 11% after the company announced a 19% increase in net profit for the March quarter. The financial report detailed a rise in net profit to Rs 656 crore, along with an increase in total income to Rs 2,172 crore for the period.
- Country:
- India
In a robust financial showing, PNB Housing Finance shares surged 11 percent following the company's announcement of a substantial 19 percent rise in net profit for the March quarter.
Reported earnings climbed from Rs 550 crore to Rs 656 crore, buoyed by increased total income of Rs 2,172 crore, compared to Rs 2,037 crore revenue for the same period last year.
Despite a marginal dip in net interest margin to 3.69 percent, the firm's gross non-performing assets showed improvement, easing to 0.93 percent from the previous year. Interest income also saw an uptick, marking positive growth for the company.
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