Reliance Home Finance, part of Reliance Capital, posted a growth of 37.5 in net profit after tax in the three months ended December 31, 2018. In comparison, the company had reported net profit after tax of Rs 40 crore in October, In the quarter of 2017, Reliance Home Finance Limited (RHFL) said in a regulatory filing for the stock exchanges. In the third quarter ended December 31, 2018, the company's total income increased 22 percent to Rs 516 crore, from Rs 424 crore in the same period last year.
"Q3 FY19 has been a good quarter for us and we are moving on the path of profitable growth. RHFL has a clear focus on the expansion of the book along with a strong increase in net worth, without compromising the quality of the property. Ravindra Sudhalkar, Reliance Home Finance and CEO, said, "The company will continue to make valuable investments in people, processes and technology to empower the customers and to enable sustainability of the business to give strong shareholder returns."
The ratio of capital adequacy was 18.8 percent compared to December, while Tier I's capital was 12.7 percent and gross NPA (non-executed asset) ratio was 0.9 percent. Under management, the company's assets increased 24 percent to Rs 18,288 crore. The firm, which offers a wide range of solutions like home loans, affordable housing loans and construction finance, spread its network to 59 cities, catering at around 140 places.
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