NEW DELHI: Home First Finance Company India has reported a growth of 23.55 per cent in its net profit during the quarter ended December 31, 2024. Its profit after tax stood at Rs 97.38 crore in Q3 FY25 as against Rs 78.82 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s total income stood at Rs 407.45 crore in Q3 FY25, a growth of 35.36 per cent from Rs 301.01 crore it recorded in the similar quarter last year.
The board of directors have approved raising of funds by way of issuance of equity shares to eligible investors through QIP or through any other permissible mode or any combination thereof, in one or more tranches, for an aggregate amount not exceeding Rs 1,250 crore.
The board has also approved the elevation of Ajay Khetan, currently serving as the chief business officer, to the position of deputy chief executive officer of the company, with effect from January 28, 2025.
During the quarter and nine months ended December 31, 2024, 5,08,473 and 11,63,580 equity shares respectively have been allotted to employees who have exercised their options under the approved employee stock option schemes.
Manoj Viswanathan, MD & CEO of the company said, “Our AUM grew to Rs 11,949 crore, reflecting a robust year-on-year growth of 32.6% and quarter-on-quarter growth of 6.4%. Our strong liability profile and timely availability of competitive cost of borrowing enabled us to contain the cost of borrowing.”
Gross Stage 3 (GNPA) was at 1.7%, credit cost was at 30bps, cost of borrowings was at 8.4% and total CRAR was at 33.1%.
Its networth as on December 2024 stood at Rs 2,408 crore. The company recorded disbursements of Rs 1,193 Rs crore, registering year-on-year growth of 18.4% basis.
ECL provision as on December 31, 2024 is Rs 84 crore, resulting in total provision to loans outstanding ratio at 0.8%. The GNPA to total provision coverage ratio (PCR) was at 47.3% in December 2024 vs 52.4% in December 2023. Total borrowings including debt securities are at Rs 9,213 crore as on December 2024. The company continues to carry a liquidity of Rs 3,486 crore as on December 2024.
Source Homevior.in
