PNB Housing Finance on Wednesday reported an over 5 percent decline in its consolidated net profit to Rs 243.28 crore for the first quarter ended June 30. The company had posted a net profit of Rs 257.18 crore in the year-ago period. On a sequential basis, it was higher than Rs 127 crore in the March 2021 quarter.

The total income of the company fell to Rs 1,692.88 crore in Q1FY22, as against Rs 1,872.33 crore in Q1FY21, PNB Housing Finance said in a regulatory filing. On a standalone basis, the net profit during the quarter stood at Rs 234.96 crore, compared to Rs 259.61 crore a year ago.

The total income stood at Rs 1,676.45 crore in June 2021 quarter, lower than Rs 1,868.58 crore in the year-ago period. Shares of PNB Housing Finance stock closed 5 percent higher at Rs 720.45 apiece on BSE.