PNB Housing Finance Ltd suffers net loss of Rs 242 cr in Q4FY20

New Delhi: PNB Housing Finance Ltd suffered a net loss of Rs 242 crore in the fourth quarter of 2019-20 fiscal as compared to a net profit of Rs 379 crore in the corresponding quarter of the previous fiscal mainly an account of higher provisions including corona-related provision of Rs 471 crore.

The net interest income fell by 20 percent at Rs 488.1 crore in the fourth quarter of 2019-20 fiscal as compared to Rs 609.7 crore in the corresponding quarter of the previous fiscal.

The net interest margin of the company stood at 2.61 percent in the fourth quarter of 2019-20 fiscal as compared to 3.18 percent in the corresponding quarter of the previous fiscal.

The gross margin of the company, net of acquisition cost, stood at 2.88 percent in the fourth quarter of 2019-20 fiscal as compared to 3.51 percent in the corresponding quarter of the previous fiscal. 

For the entire fiscal 2019-20, the net profit fell by around 45 percent to Rs 646.2 crore as compared to Rs 1,191.5 crore in the previous fiscal. If the adjustments for corona-related provisions are made, then the net profit would have been Rs 1,010 crore in fiscal 2019-20, according to the company. The net interest income of the company stood at Rs 2,308.1 crore in the 2019-20 fiscal as compared to Rs 2,063.5 crore in the previous fiscal, registering a growth of about 12 percent. 

The total borrowing of the company stood at Rs 68,216 crore as on 31 March 2020. The same was Rs 72,362 crore as on 31 March 2019. The deposit portfolio of the company went up by 15 percent to Rs  16,470 crore. 

Disbursement of loans by the company stood at Rs 18,626 crore in fiscal 2019-20 as compared to Rs 36,079 crore in the previous fiscal. The retail disbursement of loans went down by 35 percent to Rs 17,111 crore in the previous fiscal. The Asset under Management (AUM) stood at Rs 83,346 crore on 31 March 2020 as compared to Rs 84,722 crore on 31 March 2019, the company said in a statement.

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