Published on 17/07/2017 6:04:33 PM | Source: Dion Global Solutions Ltd.

Gruh Finance Q1 net jumps 20% at Rs 72.24 cr

Posted in Stock Market| #Stock Market #Gruh Finance Ltd

Gruh Finance said that it has reported 20 per cent growth in its standalone net profit at Rs 72.24 crore for the first quarter ended June 30, 2017 (Q1FY18). The company had posted net profit of Rs Rs 60.18 crore in the similar period of the previous year, it said in a filing to the Bombay Stock Exchange. Total income from operations stood at Rs 398.12 crore, which was up by 14.95 per cent year-on-year (YoY) but down by 4.32 per cent on quarter-on-quarter (QoQ) basis. Aggregate NPAs of the company was at 0.64 per cent of the loan assets as on June 30, 2017 as against 0.56 per cent a year ago same period. Meanwhile net NPAs were at 0.16 per cent versus 0.27 per cent of June 2016.

Loan assets have increased by 19 per cent 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. Meanwhile, shares of the company were trading at Rs 487.90 apiece, down 2.92 per cent from the previous close at 13:30 hours on BSE.