Repco Home Finance Secured 23.13% surge in profit for Q3 FY24

Repco Home Finance recorded a commendable growth of 23.13 percent in its net consolidated profit for the quarter ended December 30, 2023.

As per the filing submitted to the Bombay Stock Exchange, the company's profit after tax during the third quarter of the fiscal year 2023-2024 stood at Rs.99.44 crores. This amount reflects an increase in profitability when compared to the corresponding quarter of the preceding fiscal year. Specifically, the company's profit after tax was Rs.80.76 crores in the corresponding quarter of the previous fiscal year.

In the third quarter of the fiscal year 2024, the company's net consolidated total income was recorded at Rs.393.20 crore, indicating a growth rate of 18.85% as compared to the Rs.330.85 crore recorded in the corresponding quarter. The increase in income can be attributed to various factors, including the company's efficient cost management practices, successful implementation of growth strategies, and increased demand for its products and services.

The financial performance of the company in Q3 FY24 indicates that it is on a steady growth trajectory and is likely to achieve greater success in the future.

In just one quarter, our loan sanctions have grown by 4%, reaching an impressive Rs. 777 crore in Q3 FY24. Furthermore, their loan disbursements have also seen a significant increase, standing at Rs. 759 crore, compared to Rs.696 crore in Q3 FY23. 

Looking at the quarter's performance, they take pride in sharing that the loan spread remained steady at 3.4%, while the return on assets stood at a remarkable 3.1%. These numbers reflect their team's commitment to providing our clients with the best possible outcomes. They strive to continue delivering outstanding service and results.

The loan book totaled Rs. 13,185 crore as of December 31, 2023. Of this, non-salaried segment loans accounted for 51.3%, and salaried segment loans for 48.7%. Housing loans contributed 75.6%, while home equity products accounted for 24.4%.