India Shelter Finance Q1 Profit Surges 77% - Rs 84 Crore

New Delhi, Aug 8 (PTI) India Shelter Finance Corporation on Thursday reported a 77 per cent year-on-year growth in profit after tax (PAT) to Rs 84 crore in the three months ended June 2024.

In comparison, the company posted a PAT of Rs 47 crore on the year-ago period.

The company registered a 37 per cent year-on-year (YoY) growth in Assets Under Management (AUM) to Rs 6,509 crore in the April-June quarter of the current financial year (FY25) from Rs 4,759 crore in the year-ago period.

"India Shelter delivered another quarter of consistent performance across parameters with sustainable growth in our AUM. We now operate out of 236 branches across 15 states, having added 13 new branches during the quarter," Rupinder Singh, Managing Director and CEO of India Shelter Finance Corporation, said.

"Going forward, we will continue to focus on sustainable growth by penetrating deeper into our existing geographies, where a significant unserved and underserved population resides," he added.

The company's disbursements for the quarter also saw a significant increase, rising 23 per cent YoY to Rs 715 crore. Further, Return on Assets (RoA) stood at a healthy pace of 5.6 per cent, up from 4.2 per cent in the same quarter last year.

Gross Stage 3 assets, a measure of asset quality, remained stable at 1.1 per cent, a slight increase from 1 per cent in April-June quarter of FY24.