Gruh Finance witness 20% yoy rise in Q1 net profit

Key Highlights: 

• Gruh Finance net profit at Rs 72.24 crore in Q1
• Total income at Rs 398.12 crore in Q1
• Loan assets' grows by 19% yoy basis

Gruh Finance on Saturday witnessed 20% rise in its standalone net profit for the first quarter ended June 30, 2017 (Q1FY18). 

The company posted net profit of Rs 72.24 crore, rising by 20.03% compared to Rs 60.18 crore in the similar period of the previous year. 

However, Q1FY18 net profit was a decline of 34.59% from Rs 110.45 crore recorded in the preceding quarter.

Total income from operations stood at Rs 398.12 crore, which was up by 14.95% year-on-year (YoY) but down by 4.32% on quarter-on-quarter (QoQ) basis. 

Aggregate NPAs of the company was at 0.64% of the loan assets as on June 30, 2017 as against 0.56% a year ago same period. Meanwhile net NPAs were at 0.16% versus 0.27% of June 2016. 

Loan assets have increased by 19% to Rs 13,695 crore in Q1, from Rs 11,544 crore in the corresponding period of the previous year. 

During the quarter, Gruh Finance allotted 5,59,790 equity shares pursuant to exercise of the stock options by employees and directors.