GIC Housing Finance Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
GICHSGFIN · price
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GIC Housing Finance reported weak Q1 FY26 results with total income falling to ₹26,543 lakh from ₹27,718 lakh in Q1 FY25, a decline of about 4%. The company swung to a pre-tax loss of ₹2,040 lakh (vs profit of ₹4,687 lakh last year) mainly due to a sharp jump in impairment provisions to ₹7,797 lakh from ₹2,384 lakh. Net profit after tax collapsed to ₹735 lakh from ₹3,896 lakh, and EPS fell to ₹1.36 from ₹7.23. The company changed its Expected Credit Loss (ECL) methodology, which alone added ₹5,416 lakh to provisions, plus a one-time ₹2,731 lakh provisioning on reclassification of repossessed properties. Asset quality weakened with Stage 3 (NPA) ratio rising to 4.74% from 3.03% in the previous quarter, though provision coverage improved to 56%. Debt-equity ratio stood at 4.40x, net worth at ₹1,97,193 lakh, and the auditor (Chandabhoy & Jassoobhoy) issued a clean limited review report with no qualifications.
Short-term negative for shareholders — sharp PAT decline (~81%), pre-tax loss, and rising NPAs signal asset quality stress. However, higher provisioning reflects more conservative accounting rather than fresh defaults, and the deferred tax credit kept PAT marginally positive. Watch for sustained improvement in Stage 3 ratio in coming quarters.