PNB Housing Finance Limited on Monday released its second quarter earnings for the financial year 2023-24. It posted Q2 profit at Rs 383 crore, up 45.8 per cent in comparison to Rs 262.63 crore during the corresponding quarter of last year. It recorded revenue from operations at Rs 1,777.75 crore, up 5.5 per cent as against Rs 1,684.41 crore during the second quarter of FY23. While the total income during the quarter in review stood at Rs 1,779.40 crore, total expenses during the quarter ended September 2023 was at Rs 1,272.29 crore. 1

In terms of business operations, the total disbursements by PNB Housing Finance during Q2FY24 stood at Rs 4,180 crore registering an increase of 16 per cent YoY. Retail disbursements grew by 18 per cent on-year to Rs 4,165 crore, and Asset under Management (AUM) grew by 2 per cent YoY to Rs 67,415 crore as on September 30, 2023. The loan asset, meanwhile, grew by 5 per cent YoY to Rs 60,852 crore as on September 30, 2023. While retail loans grew by 12 per cent on-year to Rs 58,471 crore, corporate loans reduced by 58 per cent on-year at Rs 2,381 crore.

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• 1. The non-banking finance company (NBFC) recorded Net Interest Income (NII) at Rs 661 crore, up 2 per cent on-year. “During Q2FY23, there was a one-off of Rs 160 crore on assigned loans due to benchmark rate resets, excluding one-off net interest income grew by 35 per cent YoY,” the company said in a regulatory filing. It said that the operating expenditure increased by 24 per cent YoY to Rs 168 crore while pre provision operating profit de-grew by 5 per cent YoY to Rs 552 crore. Excluding one-off in Q2 FY23, it grew by 30 per cent YoY. Net interest margin, it said, stood at 3.95 per cent and gross margin, net of acquisition cost, stood at 4.18 per cent in Q2FY24.