CARE Ratings raises the outlook for Aptus stock to “positive”

Aptus Value Housing Finance announced on Saturday that CARE Ratings had raised the company’s outlook from “stable” to “positive” while reaffirming the existing rating.

Meanwhile, CARE Ratings reaffirmed its rating on the company’s long-term banking facilities worth Rs 1000 crore to “CARE A +”. The credit rating agency also reaffirmed its rating on the company’s non-convertible bonds valued at Rs 99.7 crore to “CARE A +”.

Aptus Value Housing Finance is a Chennai-based retail focused housing finance company targeting the affordable housing segment, primarily serving low and middle income independent clients in rural and semi-urban markets of India. .

On a consolidated basis, the company announced a 30.6% increase in net profit to Rs 85.26 crore on a 29.4% increase in total income to Rs 203.24 crore in Q2 FY22 compared to Q2 FY21.

Shares of Aptus Value Housing Finance ended down 1.21% at Rs 313.10 on Friday.

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(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)

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