Motilal Oswal: Repco Home Finance Q2 Review - Spreads Improve; Asset Quality Stable
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Motilal Oswal Report
Repco Home Finance Ltd.’s Q2 FY21 profit before tax was up 6% YoY at Rs 1.08 billion.
On the back of a lower tax rate (1.3%) in the base quarter, profit after tax declined 20% YoY to Rs 808 million.
The quarter was characterized by a gradual pick up in business volumes, improvement in spreads, and focus on collections.
The company created Rs 72 million in provisions in Q2 FY21. Collection efficiency stood at 93% in September 2020.
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