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23 March, 2018 12:37 IST
Reliance Home Finance reports robust profitability in Q3FY18
Source: IRIS | 07 Feb, 2018, 05.41PM
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Reliance Home Finance (RHFL), a subsidiary of Reliance Capital, announced its financial results for the quarter ended December 31, 2017.

Profit after Tax was Rs 460 million (USD 7 million) a YoY increase of 102%. Total income was Rs 4.21 billion (USD 66 million) a YoY increase of 56%.

Cost-to-income ratio improved from 51% in Q2FY17 to 39% in Q3FY18. Disbursements were Rs 16.28 billion (USD 254 million) a YoY increase of 35%. As on December 31, 2017, the assets under management stood at Rs 148.62 billion (USD 2.3 billion) a YoY increase of 54%.

The assets are spread across more than 100 locations. Gross NPA ratio improved from 1.1% to 0.8% as on December 31, 2017.

''Q3 has been very robust for Reliance Home Finance on all parameters. Macro environment is extremely favourable for funding affordable housing segment, which we will grow at an accelerated pace. In addition to the growth in business through the online channel, with 6 new branches (including 2 affordable home loan branches) and 24 new branches in FY19, we will be present in more than 200 locations through our 75 branches,'' said Ravindra Sudhalkar, ED & CEO, Reliance Home Finance.

Shares of the company gained Rs 4.95, or 1.13%, to settle at Rs 441.15. The total volume of shares traded was 604,904 at the BSE (Wednesday).

Reliance Capital Limited   (Q,N,C,F)*

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