PNB Housing Finance Q2: Profit up 23%, slight improvement in asset quality #CashNews.co

PNB Housing Finance reported a 23% year-on-year rise in net profit for the second quarter of FY25, reaching ₹470 crore.

The improvement in profit was attributed to better asset quality, with the gross non-performing assets (GNPA) ratio declining to 1.24%, down from 1.78% a year ago and 1.35% in the previous quarter.

The company’s net interest income (NII) showed modest growth, up 1.2% year-on-year to ₹669 crore. On a quarterly basis, NII rose 2.7%, although the net interest margin (NIM) slipped to 3.68% from 3.95% in the year-ago period, suggesting some margin pressure.

Also read: Bajaj Finance Q2 profit rises driven by strong NII growth and BHFL stake sale gain

The housing financier’s net interest margin (NIM) for the September quarter stood at 3.68%, reflecting a slight improvement from 3.65% in the previous quarter. However, it remains lower than the 3.95% recorded in the same period last year.

Total income for the quarter increased 5.7% to ₹1,869 crore, compared to ₹1,768 crore in the same period last year.