Repco Home Finance has reported net profit of Rs 82 crore for the fourth quarter of FY23 as compared to Rs 42 crore in the corresponding quarter of last fiscal, registering a growth of 95%. The Chennai-based company has earned a total income of Rs 344 crore as compared to Rs 324 crore, marking an increase of 6%.
Its loans sanctions stood at Rs 966 crore as compared to Rs 652 crore, registering a growth of 48% while loan disbursements were at Rs 835 crore as compared to Rs 601 crore, posting a growth of 39%. Net interest income stood at Rs 155 crore, resulting in healthy margins of 5.1%.
The overall loan book of the company was at Rs 12,449 crore. Loans to the self-employed segment accounted for 51.6% of the outstanding loan book and loans for salaried segment accounts for the balance of the book. Housing loans accounted for 79.3% of the loans while home equity products accounted for 20.7% of the outstanding loan book. Up to 100% of the loans given by the company are retail loans.
Gross NPA amounted to Rs 719 crore as against Rs 820 crore as of March 31, 2022 and Rs 750 crore as of December 31, 2022, showing a gradual decline.
Net NPA constituted Rs 362 crore of the loan assets as of March 31, 2023 as against Rs 559 crore as of March 31, 2022 and Rs 404 crore as of December 31, 2022, showing a similar decline.
The gross non-performing assets (GNPA) ratio stood at about 5.77% and net NPA ratio stood at about 2.99% of the loan assets as of March 31, 2023. This was against 6.97% and 4.86% as of March 31, 2022, respectively. The company has carried provisions for expected credit losses to the tune of Rs 519 crore or 4.2% of total loan assets. The Stage-3 assets carry a coverage ratio of 49.6%.