Housing finance company PNB Housing Finance has registered a decline of 25% in its consolidated net profit for the quarter ended September 2021. Its profit after tax (PAT) reached Rs 235.21 crore in Q2 FY22 compared to Rs 313.29 crore it recorded in the similar quarter previous fiscal, the company said in a BSE filing. The firm's net consolidated total revenue reached Rs 1,586.41 crore in Q2 FY22, a drop of 22% from Rs 2,021.50 crore it reported in the corresponding quarter of the previous year. Hardayal Prasad, managing director and CEO of the firm, told the media that the firm reported a healthy increase in disbursements with 96% disbursements in the retail sector during the quarter. With a focus on the retail sector, the degrowth in retail loan assets is managed during the quarter. With the opening up of the field movement and legal machinery after the second wave of Covid, they observed enhanced resolutions in Q2 FY22, leading to retail NPA dropping by 14% on an absolute basis during the quarter. In the regulatory filing, the firm said that the board of directors permitted the issuance of secured and unsecured non-convertible debentures (NCDs) totalling up to an amount of Rs 2,000 crore in one or more tranches on a private placement basis. The board had decided in October this year not to continue with the preferential issue of Rs 4,000 crore passed on May 31, 2021. The primary goal is to raise capital to help the firm's growth, and it believes that the present situation of protracted litigation, a continuation of Securities Appellate Tribunal (SAT) interim order and pending regulatory permissions is not in the best interests of the firm and its stakeholders. PNB Housing has applied to revoke its appeal to SAT. Further, the Supreme Court on October 20, 2021, dismissed the appeal listed by SEBI saying that since an application has been moved for appeal withdrawal before the SAT, the appeal with SC becomes infructuous. During the quarter ended September 30, 2021, PNB Housing has allocated 69,450 equity shares of Rs 10 each pursuant to the exercise of stock options by employees. Its debt-equity ratio reached 5.93, net worth was Rs 9,351.04 crore, total debt to total assets ratio was 0.83, the net profit margin was 14.41%, the firm told the media. Image Source Also read: DLF Q2 results: Net profit increases 64% to Rs 378.95 cr