Repco Home Finance Ltd (RHFL) reported its unaudited financial results yesterday after the market close for the quarter that ended on June 30 2023, or Q1FY24. Today, the stock witnessed a spike in share price after the robust results.
Repco Home Finance is a professionally managed housing finance company and it is registered as a housing finance company with the National Housing Bank. The company is operating through many branches and several satellite centres in different states. The business area of the company is to provide a variety of tailor-made home loan products to individual borrowers in both salaried and non-salaried classes to suit various requirements.
Talking about financials, on a consolidated basis the company has reported a 43.53% rise in net profit at Rs 89.09 crore for the first quarter that ended June 30, 2023, as compared to Rs 62.07 crore for the same quarter in the previous year. The total income of the company increased by 19.38% at Rs 366.50 crore for Q1FY24 as compared to Rs 307 crore for the corresponding quarter previous year.
Sequentially on a consolidated basis, the company’s net profit for the quarter which ended on June 30, 2023, increased by 8.51% from Rs 82.10 crore. In Q1FY24, the company’s total net revenue increased by 7.28% from Rs 332.96 crore in the similar quarter the year prior. The loan book of the company stands at Rs 12,655.4 crore as of Q1FY24. Compared to June 2022 GNPA stands at 5.5% from 6.4% and NNPA stands at 2.8% from 4.2%.
Yesterday, the scrip closed at Rs 344.70. Today it opened at Rs 349.70 and currently, it is trading at Rs 387.70, up by 12.47%. Today it has hit a fresh 52-week high at Rs 389.80 and it has a 52-week low of Rs 155.60. The company has a market capitalisation of around Rs 2,400 crore. Over the past one-year shares of the company have given multibagger returns of 141.85%.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.