Repco Home Finance’s net profit declines 50% in June quarter

The institution has carried provisions for expected recognition losses to the tune of Rs 368.4 crore oregon 3.1% of full indebtedness assets. Stage III sum ratio stood astatine 42% astatine the extremity of June 2021 compared to 41% successful the erstwhile year.

Repco Home Finance has registered a 49.8% diminution successful its nett net astatine Rs 32.1 crore for the archetypal 4th of FY22 arsenic against Rs 64 crore successful the corresponding 4th past fiscal.

Total income of the Chennai-based institution stood little astatine Rs 322.4 crore arsenic against Rs 341.9 crore.

The institution said said the bottommost enactment took a beating chiefly owed to higher proviso of Rs 78.3 crore. Net involvement income stood astatine Rs 144.8 crore portion loans sanctions were astatine Rs 201.2 crore, registering a maturation of 25%.

The wide indebtedness publication was astatine Rs 11,985.5 crore astatine the extremity of June 2021.

Loans to the self-employed conception accounted for 51.5% of the outstanding indebtedness book, and loans against spot merchandise accounted for 18.7% of the same, the institution said.

The institution has carried provisions for expected recognition losses to the tune of Rs 368.4 crore oregon 3.1% of full indebtedness assets. Stage III sum ratio stood astatine 42% astatine the extremity of June 2021 compared to 41% successful the erstwhile year.

The full superior adequacy ratio stood provisionally astatine 31.2%, comprising tier-1 superior of 30.8% and tier-2 superior of 0.4%. Repco Home Finance, arsenic of June 30, 2021, had a full web of 153 branches.