The Financial Express

Non-banking finance company (NBFC) Home First Finance Company on Wednesday posted 46% year-on-year (y-o-y) growth in its net profit for the first quarter of the current financial year to Rs 51 crore. Total income improved 19% y-o-y to Rs 169 crore in Q1FY23.
The company’s disbursements grew by 117% y-o-y to Rs 661 crore in Q1FY23. Assets under management (AUM) grew by 35.8% y-o-y to Rs 5,832 crore.
“We have expanded our footprint by adding 13 new physical branches and increased our touchpoints from 200 in Q4FY22 to 224 in Q1FY23. This is in-line with our aim to increase our presence in large affordable housing finance markets,” Manoj Viswanathan, managing director and chief executive officer of the company said in a press release.
The company also saw improvement in asset quality. Bounce rates improved to 14% in Q1FY23 from 14.5% on a sequential basis. The bounce rates in July stood at 13.5%. The company’s gross stage 3 non-performing assets declined from 2.3% to 2.1% q-o-q.
Digital adoption has further improved with 84% customers registered on the app as on June 30 and payments received via the app increasing by 82% y-o-y.
Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

source

Lascia un commento

Il tuo indirizzo email non sarà pubblicato. I campi obbligatori sono contrassegnati *