Gruh Finance share price hit a record high of Rs 370, up 4 per cent on both NSE and BSE in intra-day trade, after the housing finance company reported a rise of 20 per cent year on year (YoY) in the net profit at Rs 61.98 crores for the second quarter ended 30th September, 2016 (Q2 of FY17).The company had registered a profit of Rs 51.7 crores in the same quarter last fiscal.
Total revenue of the Company from operations grew 17.8 per cent year on year to Rs 367 crores for the quarter under review against Rs 312 crores in the corresponding quarter of previous fiscal.
Gruh Finance said that its loan assets have increased from Rs 9,913 crores as 30th September, 2015 to Rs 12,089 crores as on 30th September, 2016 registering a growth of 22 per cent.
The aggregate non-performing assets (NPA) of the company stand at 0.62 per cent of the loan assets against 0.58 per cent in a year ago quarter. The net NPA are 0.29 per cent of the loan assets against 0.27 per cent.
Gruh Finance, a subsidiary company of Housing Development Finance Corporation (HDFC), offers affordable housing loans in the rural as well as semi urban locations.The counter has seen huge trading volumes with nearly 1.1 million shares changing hands on the Bombay Stock Exchange via block deal at around 10:00 am.
At 10:14 am, Gruh Finance share price was trading flat at Rs 357 on BSE, as compared to 0.89 per cent decline in the S&P BSE Sensex. A combined 2.66 million shares representing 0.73 per cent of total equity of Gruh Finance changed hands on the BSE and NSE so far. Gruh Finance is one of the top 500 shares of Dynamic Levels recommended by the research and analyst team.
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