Motilal Oswal: PNB Housing Finance  - One-Off Assignment Spread Income Leads To Large Q2 PAT Beat
The investment was made under RBI’s automatic route in the revamped External Commercial Borrowings framework, says PNB Housing Finance. (Photographer: Dhiraj Singh/Bloomberg)

Motilal Oswal: PNB Housing Finance - One-Off Assignment Spread Income Leads To Large Q2 PAT Beat

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Motilal Oswal Report

PNB Housing Finance Ltd.’s Q2 FY21 profit after tax declined 15% YoY to Rs 3.1 billion (92% beat).

The beat was driven by higher-than-expected net interest income, lower opex/credit costs.

Interest income grew 9% QoQ, driven by 100 basis point sequential yield improvement, led by Rs 1.05 billion one-time spread income due to lower bank marginal cost of funds based lending rate on the assigned portfolio.

Click on the attachment to read the full report:

Motilal Oswal PNB Housing Finance Q2FY21 Result Update.pdf

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