GRUH Finance’s profits shine in Q1FY17

GRUH Finance (GRUH) has declared its Q1FY17 results on July 18 after market hours. The company’s net sales have increased by 18.93 per cent to Rs 350 crore in Q1FY17 as compared to same period in previous fiscal. Its net interest margin has risen by 21 per cent to Rs 114 crore in Q1FY17 on a yearly basis. The PAT of GRUH has increased by 21.5 per cent to Rs 60.18 crore in Q1FY17 as compared to same period in previous financial year.

GRUH’s disbursements have increased by 22 per cent to Rs 940 crore in Q1FY17 on a yearly basis. The company’s loan assets also have risen by 24 per cent to Rs 11544 crore in Q1FY17 as compared to previous fiscal year.

On asset quality front, the gross non-performing assets (NPA) of GRUH stand at 0.56 per cent amounting to Rs 64.7 crore as of Q1FY17. The company’s net NPA stands at 0.27 per cent amounting to Rs 30.8 crore as of Q1FY17.

GRUH provides home loans to individuals, and families, for purchase, construction and extension. The company has network of 179 retail offices across 10 states of the country. It has 46 offices in Gujarat, 49 offices in Maharashtra, 17 branches in Karnataka, 28 offices in Madhya Pradesh, 11 offices in Rajasthan, 10 offices in Tamil Nadu, 3 offices in Uttar Pradesh and one each in Jharkhand & Bihar.

The share price of GRUH has increased by 1.57 per cent on bourses in early trades and is trading at Rs 294 on an intraday basis.