Repco Home Finance has reported a 30.2 per cent rise in its profit after tax at Rs. 80.02 crore for the year ended March 31, 2013, against Rs. 61.46 crore in the previous financial year.
Total income has risen by 27.31 per cent to Rs. 405.97 crore from Rs. 318.89 crore. Home loan portfolio of the company grew 25.03 per cent to Rs. 3,016.54 crore as on March 31, 2013 as compared to Rs. 2,412.59 crore.
Addressing presspersons here on Friday R. Varadarajan, Managing Director, said the company could maintain a strong loan book growth by tapping under-serviced segments in Tier 2 and Tier 3 cities. The focus was on non-salaried segments especially self employed professionals and non-professionals, which were normally neglected by other players. He said the capital adequacy ratio was strong at 25.50 per cent against the stipulated requirement of 12 per cent. This level would take care of further business needs for at least four years.
Total loans outstanding stood at Rs. 3,544.75 crore during the year ended March 31, 2013, a growth of 26.41 per cent over the previous year’s figure of Rs. 2,804.08 crore. Mr. Varadarajan said the net interest margin was comfortable at 3.96 per cent with a spread of 3.11 per cent despite a heavy pressure on the interest rate front. The gross NPA (non-performing assets) ratio was 1.48 per cent and the net NPA at 0.99 per cent.
The company has maintained the equity dividend at 11 per cent for 2012-13 on an enhanced capital of Rs. 62.16 crore. Repco Home Finance came out with an initial public offer of equity shares in March this year.