Shares of Repco Home Finance hit the 52-week high of Rs 368.25 in morning trade on August 7 after the company reported a profit of Rs 89 crore for the quarter ended June FY24, rising 43.5 percent over last year.
At 10.05am, shares of the company were trading 9.54 percent up at Rs 365.25 on the BSE.
Its consolidated profit after tax stood at Rs 62.07 crore in Q1 FY23, the housing finance company said in a post-market hours regulatory filing on August 4.
Total income rose 19.38 percent to Rs 366.50 crore, from Rs 307 crore in the same quarter of the previous fiscal.
Net interest income during the quarter jumped 18.2 percent YoY to Rs 162 crore, with net interest margin expanding to 5.1 percent from 4.6 percent in Q1 FY23, the Chennai-headquartered company said.
Operating revenue grew by 21 percent YoY to Rs 364.5 crore, while loan sanctions at Rs 726 crore increased by 5 percent and loan disbursements at Rs 684 crore rose by 7 percent YoY.
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As of June 2023, the company had a total network of 159 branches and 34 satellite centers across India. Additionally, it has opened two asset recovery branches.
On the asset quality front, GNPA improved by 30 bps QoQ to 5.5 percent, while net NPA improved 25 bps to 2.8 percent I Q1 FY24.
“While the asset quality continues to improve, it will be interesting to understand from the management the kind of improvement that it foresees in asset quality and its expectations on credit costs in FY24,” domestic brokerage firm Motilal Oswal said in a note.
As of the quarter ended June 2023, the promoter holding in the company stood at 37.13 percent, while mutual funds held 17.69 percent, FPIs 13.41 percent, resident individuals 22.59 percent, among others.
Shares of Repco Home Finance are up 56 percent on YTD basis, while the 1-year return stands at 131 percent.
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