An NBFC Stock with a market capitalization of Rs 2,184 crore surged 10.5 percent on Monday to reach a 52 week high price of Rs 369 apiece following the company’s outstanding June Quarter financial results.
Repco Home Finance Ltd. shares were trading at Rs. 349.20 a share on the National Stock Exchange at 2:18 p.m., up Rs 15.20 or 4.55 percent.
According to the company’s exchange filing, The company’s net profit increased by 43 percent to Rs 89 crore in Q1 FY24, compared to Rs 62 crore in the same quarter last year(Q1FY23), while revenue increased by 19 percent to Rs 366 crore in the latest quarter, compared to Rs 307 crore in the same quarter last year.
In the previous year, the company’s share price rose from Rs 156.40 to current levels, giving multibagger returns of 124 percent. As a result, if an investor purchased 1 lakh shares of a company in the previous year, their holdings are now worth 2.24 lakh!
Repco Home Finance’s financial indicators have greatly improved, with the return on asset improving from 2.1 percent to 2.8 percent and the return on equity increasing from 12.2 percent to 15.8 percent for the trailing 12 months ending June 2023. Likewise, the net profit margin improved from 4.6 to 5.1 percent.
Net Interest Income grew by 18 percent from Rs 1,370 crore in Q1 FY23 to Rs 1,619 crore in Q1 FY24, while Loan Disbursements climbed by 7 percent from Rs 6,422 crore to Rs 6,843 crore during the same period.
As per the current shareholding pattern,the promoters own 37.13 percent of the company, Foreign institutional investors own 13.41 percent, and domestic institutional investors own 19.55 percent.
Repco Home Finance Limited is a non-banking financial company-housing finance business (NBFC-HFC).It is engaged in financing the purchase and construction of houses.
Written by Omkar Chitnis
