Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
22 October, 2018 22:00 IST
Reliance Home Finance reports robust profitability in Q3FY18
Source: IRIS | 07 Feb, 2018, 05.41PM
Comments  |  Post Comment

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)*

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
Biocon, Mylan announce positive CHMP Opinion for Ogivri - 22-Oct-2018 10:28
Lupin announces positive CHMP opinion for NaMuscla - 22-Oct-2018 09:51
Tejas Networks bags Rs 1.11 bn order from Sterlite Technologies - 22-Oct-2018 09:45
Alembic Pharma' JV completes USFDA inspection of Karakhadi unit - 22-Oct-2018 09:41
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer