PNB HFC Q1 net down 3% YoY, corporate loan pre-payments hit income

Disbursements during reporting quarter almost doubled to Rs 3,451 crore compared to Rs 1,759 crore in Q1FY22

PNB Housing Finance’s net profit for June 2022 quarter (Q1FY23) declined three per cent to Rs 235 crore year-on-year (YoY) as net interest income dipped. Sequentially, net profit was down 39 per cent quarter-on-quarter (QoQ) over March 2022 (Q4FY22).

Net Interest Income declined by 33 per cent YoY and two per cent QoQ to Rs 370 crore on account of reduction in corporate book. Net Interest Margin (NIM) stood at 2.4 per cent in Q1 FY23 down compared to 3.2 per cent a year ago in Q1FY22. It was up QoQ from 2.3 per cent in Q4 FY22, said the