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Q3 Reports Of Reliance Home Finance Shows 37.5 Per Cent Surge

Reliance Home Finance has released its Q3 report and proclaims to earn INR 55 crore following tax deduction.
BY BEx Bureau
BusinessEx
Feb 12, 2019

Reliance Home Finance, a subsidiary of Reliance Capital, released its Q3 report. On Tuesday, the released report showed an increase of 37.5 per cent in net profits following tax deduction on INR 55 crore. Comparing Q3 FY17 reports, the company earned aggregated revenue INR 40 crore, said Reliance Home Finance Ltd., in its filing. (Source: ET news)

Ravindra Sudhalkar, CEO of Reliance Home Finance Ltd., said, Q3 FY19 has been a good quarter for us and we continued on the path of profitable growth. RHFL has a clear focus on expanding the book along with robust growth in the net worth, without compromising on the asset quality. The company will continue to make valuable investments in people, processes and technology to empower the customer and enable the sustainability of the business for delivering robust shareholder returns. (Source: ET news)

In December, the company projected the capital adequacy ratio at 18.8 per cent, along with tier 1 capital and gross NPA, at 12.7 per cent and 0.9 per cent respectively. Further, the companys assets have soared by 24 per cent to INR 18,288 crore. (Source: ET news)

The company presently renders a wide range of solutions, from home loans to construction. It has broadened its nexus into 59 cities of India so far.

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