Repco Home Finance Q1 net profit halves to ₹32.1 crore

The standalone net profit of Repco Home Finance (RHFL) nearly halved to ₹32.1 crore in the first quarter, against ₹64 crore in the year-ago quarter, due to sharp rise in provisions towards bad loans.

The lender’s provision and write-offs jumped to ₹78.3 crore in Q1FY22 as against ₹22.1 crore of provisions in the corresponding quarter last year.

Revenue from operations marginally dropped to ₹320.1 crore (₹337.7 crore).

Loan disbursements grew by 32 per cent year-on-year to ₹239.7 crore in June quarter. The overall loan book of home loan financier stood at ₹11,985.5 crore at the end of June 2021.