PNB Housing Finance Q2 Review - Still In Consolidation Mode: Motilal Oswal

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.PNB Housing Finance Ltd. reported a Q2 FY22 profit after tax of Rs 2.3 billion (9% miss), which declined by 25% YoY and 3% QoQ. The miss was driven by lower-than-estimated net interest income on account of income reversals due to accelerated run-off in the securitised pool of loans and partly mitigated by lower credit costs. NII fell 25% YoY and 9% QoQ to Rs 4.7 billion (9% below our estimate of Rs 5.1 billion). Provisions at Rs 1.4 billion were below our estimate of Rs 1.8 billion. PNB Housing Finance's disbursements rose 21% YoY to Rs 29.6 billion. This led to assets under management declining by 3% QoQ and 14% YoY to Rs 698 billion.Gross/net non performing asset fell ~10 basis points/30 bps QoQ to 5.9%/3.3% (as a percentage of loans), with stage-III provision coverage ratio at 44%. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

PNB Housing Finance Q2 Review - Still In Consolidation Mode: Motilal Oswal

PNB Housing Finance Q2 Review - Still In Consolidation Mode: Motilal Oswal

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