On May 14, 2024, Repco Home Finance announced their Q4 results, showing a year-over-year topline increase of 15.36% and a profit surge of 35.4%. Compared to the previous quarter, revenue rose by 1.36%, while profit saw a 9.33% growth. Repco Home Finance Shares Surge Over 8% Following Strong Q4 Results and Lowest GNPA Ratio in 12 Quarters.
Selling, general, and administrative expenses increased by 18.95% quarter-over-quarter and by 21.46% year-over-year. Operating income grew by 4.59% quarter-over-quarter and saw a 23.02% rise year-over-year.
The EPS for Q4 stands at ₹16.94, marking an 18.3% year-over-year increase. Over the past week, Repco Home Finance has posted a -2.66% return, with a 9.86% return over the last six months and a 23.2% return year-to-date.
Repco Home Finance currently has a market cap of ₹3,024.53 crore, with a 52-week high of ₹543 and a low of ₹203.65.
As of May 16, 2024, among the 8 analysts covering the company, 3 recommend holding, 3 recommend buying, and 2 recommend strong buying. The consensus recommendation as of that date was to purchase.
Impact on shares
Shares of Repco Home Finance Ltd surged by up to 8.5%, reaching an intraday high of ₹525 per share on the BSE, propelled by robust Q4 results.
The company showcased its strongest asset quality in the fourth quarter of the fiscal year 2024 compared to the past 12 consecutive quarters.
In its earnings report unveiled on Tuesday, Repco Home Finance demonstrated a double-digit growth of 11.4% in its net interest income (NII) on a year-on-year (YoY) basis, amounting to ₹172.3 crore compared to ₹154.7 crore in the March 2023 quarter. Additionally, it registered a marginal increase of 0.2% sequentially in Q4 FY24.
In the final quarter of FY24, Repco Home Finance witnessed a robust 35.3% year-on-year increase in other income, reaching ₹4.6 crore, while operational expenditure also rose by 27.5% year-on-year to ₹48.2 crore.
The most notable aspect, however, is Repco Home Finance’s achievement of its lowest gross non-performing assets (GNPA) ratio of 4.1% in Q4 FY24, marking its lowest figure in the past 12 quarters. Comparatively, the GNPA ratio stood at 4.7% in the same quarter of FY23, while the net NPA (NNPA) reduced to 1.5% in the March 2024 quarter from 1.9% in the corresponding period last year.
In the quarter under review, GNPA decreased by 10.8% year-on-year to ₹551.6 crore from ₹618.2 crore, whereas NNPA dropped even more significantly by 22.25% year-on-year to ₹191.8 crore.
Additionally, the company’s assets under management (AUM) experienced an 8.55% year-on-year growth in the January to March 2024 period, reaching ₹108.1 crore, and rose by 8.75% on a quarter-on-quarter basis.
As of 1:30 pm, shares of Repco Home Finance Ltd were trading 4.55% higher at ₹503 per share on the BSE.
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