Repco Home remains top gainer

Since the opening bell, Repco Home Finance is the top gainer on the BSE. From yesterday’s close of Rs.590.70, the stock opened high at Rs.609, going up over 13.5% to Rs.670.85. Its 52-week high is at Rs.923.

The reason for this euphoria is the good set of Q2FY18 declared seconds after the market closed for trading yesterday.  It posted a good 24% (YoY) rise in net profit at Rs.56 crore in Q2 on a 14% increase in net interest income at Rs.109 crore. Total income stood at Rs.281 crore, up 6%.

Along with profitability, there was an improvement in its asset quality too. Gross NPA improved from 4% to 3.4% (QoQ) and Net NPA was at 1.9%.

Its capital adequacy ratio stood provisionally at 22.1%, above regulatory requirement of 12%.