PNB Housing Finance logs 80 % jump in Q2 net profit at Rs 18.37 cr

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New Delhi, Nov 5 (UNI) PNB Housing Finance Ltd, a wholly-owned subsidiary of Punjab National Bank, today said its net profit increased by 80 per cent at Rs 18.37 crore for the quarter ending September, as against Rs 10.20 crore for the same period a year ago.

The total income of company rose by 53 per cent to Rs 103.55 crore during first half of the year, against Rs 67.90 crores for the same period in 2006, a statement said.

The board has approved an interim dividend of 10 per cent for the year, which will absorb a sum of Rs 3.51 crore, including dividend tax, company's MD V K Khanna said.

The company is looking at higher business volume in the coming months. PNB Housing Finance is entering into tie-ups for promoting individual loans from various builders across the country.

The business potential is sufficient to ensure good growth in the current year. During the current financial year, the company has raised bonds series IV and V for Rs 100 crore each. The amount raised will be used to augment long-term resources of the Company, Mr Khanna added. 1 UNI

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