National Housing Bank net profit down 3% at Rs 375 crore in H1 FY16

National Housing Bank (NHB) today reported a 2.80 per cent decline in net profit at Rs 374.99 crore for the first half of the fiscal ended December 31.

NHB, which follows July-June financial year, had reported a net profit of Rs 385.82 crore in the corresponding period a year ago.

The total income of NHB increased by 5.72 per cent to Rs 2,005.29 crore from Rs 1,896.79 crore ported in the corresponding period a year ago.

Net Non-Performing Assets (NPAs) were at 0.30 per cent of the total advances during the quarter as against 0.27 reported in the half year ended December 31, 2014.

NHB is the apex regulatory and refinancing institution for housing finance companies.