NEW DELHI: Home First Finance Company India has reported a growth of 24.12 per cent in its net consolidated profit during the quarter ended September 30, 2024. Its profit after tax stood at Rs 92.22 crore in Q2 FY25 as against Rs 74.30 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net total income stood at Rs 374.23 crore in Q2 FY25, a growth of 34.62 per cent from Rs 277.98 crore it recorded in the similar quarter last year.
Manoj Viswanathan, MD & CEO of the company said, “Disbursements grew by 22.7% year-on-year, to an all time high of Rs 1,177 crore resulting in an AUM of Rs 11,229 crore with a growth of 34.2% year-on-year.”
During the quarter and half year ended ended 30 September 2024, 2,60,631 and 6,55,107 equity shares respectively have been allotted to employees who have exercised their options under the approved employee stock option schemes.
It achieved an ROE of 16.5% in the said quarter. ECL provision as on September 2024 was at Rs 79 crore, resulting in total provision to loans outstanding ratio at 0.8%; and the gross non-performing assets (GNPA) to total provision coverage ratio (PCR) is at 48% in September 2024 vs 52.3% in September 2023.
The company’s asset under management (AUM) was Rs 11,229 crore, registering a growth of 34.2% on year-on-year basis and 7.2% on quarter-on-quarter basis.
As on September 30, 2024 total borrowings including debt securities were at Rs 8,867 crore, it continued to carry a liquidity of Rs 3,262 crore, cost of borrowings was at 8.4%, total capital adequacy ratio (CRAR) was at 36.4%, of which tier-I capital stands at 36.0%. The company’s net worth as on September 30, 2024 stands at Rs 2,289 crore.
Source Homevior.in
