GIC Housing Finance Q4 net profit down 38.51% at Rs 49.01 cr
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The company reported standalone net profit of Rs 49.01 crore for the quarter ended March 31, 2022 as compared to Rs 79.70 crore in the same period last year, registering a year-on-year decline of 38.51 per cent. Net revenue of the company declined marginally by 3.69 per cent at Rs 285.21 crore in January-March quarter of this fiscal as against Rs 296.13 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 8062.60 per cent to Rs 200.80 crore from Rs 2.46 crore in year ago period.
Other Income dipped by 79.88 per cent at Rs 1.73 crore versus (Mar'21 Rs 8.60 crore). Operating Profit slipped by 70.48 per cent to Rs 87.42 crore as against Rs 296.16 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 69.35 per cent in March quarter. Interest declined by 93.28 per cent y-o-y to Rs 12.72 crore, while Taxation decreased by 29.98 per cent at Rs 24.36 crore (Mar'21 Rs 34.79 crore).
