Repco Home Finance Limited announced financial results prepared as per Indian Accounting Standards (IND AS) for the quartet ended September 30, 2020. The Company's financial performance remained robust even as the economy showed signs of recovery from the pandemic led setbacks.
Performance in Q2FY21 Vs Q2FY20
- Total income grew 4% to Rs. 350.2 Crs.
- Net interest income stood at Rs. 139.6 Crs and margins at record 4.6%.
- Net profits stood at Rs. 80.8 Crs.
- Loans sanctions stood at Rs. 527.7 Crs
- Loan disbursements stood at Rs. 467.2 Crs
- Interest spread expanded to 3.4%.
- Return on assets and equity expanded to 2.7% and 18.3% respectively.
Performance in H1FY21 Vs H1FY20
- Total income grew 4% to Rs. 692.1 Crs.
- Net interest income stood at Rs. 267.6 Crs and margins at 4.5%.
- Net profits stood at Rs. 144.8 Crs.
- Loans sanctions stood at Rs. 689.2 Crs
- Loan disbursements stood at Rs. 648.8 Crs
- Interest spread remained healthy at 3.3%.
- Return on assets and equity remained robust at 2.4% and 16.7% respectively.
Loan Book and composition
The overall loan book grew 5% to Rs. 12,089.2 Crs at the end of September 2020. Loans to the selfemployed segment accounted for 51.7% of the outstanding loan book and loans against property product accounted for 18.9% of the same.
Stage 3 assets stood at 3.95% of the loan assets as at the end of September 2020 as compared to 4.22% as at the end of September 2019.
Provision for Expected Credit Losses
As required under IND AS, the company has carried provisions for expected credit losses to the tune of Rs. 243.2 Crs or 2.0% on total loan assets.
Stage 3 coverage ratio stood at 41% at the end of September 2020 as compared to 28% in the previous year.
The capital adequacy ratio stood provisionally at 26.8% comprising entirely of Tier-1 capital. The minimum capital adequacy ratio prescribed by the National Housing Bank is 12.0%.
As on September 20, 2020, the Company had a total network of 153 branches and 24 satellite centers spread across Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Kerala, Maharashtra, Odisha, Gujarat, West Bengal, Madhya Pradesh, Jharkhand, Rajasthan and the Union Territory of Puducherry.
Shares of REPCO HOME FINANCE LTD. was last trading in BSE at Rs.233.95 as compared to the previous close of Rs. 218.8. The total number of shares traded during the day was 55922 in over 1453 trades.
The stock hit an intraday high of Rs. 237.7 and intraday low of 218.85. The net turnover during the day was Rs. 12833183.