India Shelter Finance Corp Q1 results: Net profit soars 78% YoY to Rs 83 crore

India Shelter Finance Corporation has reported a 78 percent jump in June quarter net profit to Rs 83.3 crore against Rs 46.9 crore in the year ago period, backed by 38 percent business expansion.

The mortgage lender, which got its shares listed on December 20 last year, said its assets under management rose to Rs 6,509 crore at the end of June. The company, which is active in the affordable housing space, operates out of 236 branches in 15 states.

"Our margins remained in line with our guidance for the medium term at 6.1%. Our return ratios continue to remain healthy at 5.6% RoA and 14.3% RoE," Managing Director Rupinder Singh said.

"Going forward, we will continue to focus on sustainable growth by penetrating deeper into our existing geographies, where a significant
unserved and underserved population resides," he added.