STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2018

( in crore )

Particulars
	Quarter ended Dec 31, 2018	Quarter ended Sept 30, 2018	Quarter ended Dec 31, 2017	Nine Months ended Dec 31, 2018	Nine Months ended Dec 31, 2017
	Reviewed
Income from Operations :
a) Revenue from Operations	540.06	480.54	432.75	1,472.79	1,253.38
b) Other Income	0.00	0.00	0.00	0.00	0.00
Total Income from Operations	540.06	480.54	432.75	1,472.79	1,253.38
Expenditure :
a) Finance Cost	373.40	289.78	252.13	926.61	731.56
b) Employee Benefit Expenses	16.13	20.85	12.90	51.97	46.49
c) Other Expenses	13.12	14.61	11.34	41.19	33.74
d) Depreciation and Amortisation	0.88	0.87	0.77	2.58	2.19
e) Provisions for Expected Credit Loss and Write offs	1.52	8.47	26.02	13.76	60.16
Total Expenditure	405.05	334.58	303.16	1,036.11	874.14
Profit Before Tax	135.01	145.96	129.59	436.68	379.24
Tax Expense
– Current Tax	38.13	43.29	44.36	121.82	121.38
– Deferred Tax	(0.07)	(2.82)	(5.61)	(2.69)	(16.79)
Total Tax Expense	38.06	40.47	38.75	119.13	104.59
Net Profit After Tax	96.95	105.49	90.84	317.55	274.65
Other Comprehensive Income (net of tax)	(0.15)	(0.10)	(0.22)	(0.32)	(0.53)
Total Comprehensive Income	96.80	105.39	90.62	317.23	274.12
Earnings per Share (of 2 each) # (Not Annualised) – Basic ()	1.32	1.44	1.24	4.33	3.76
– Diluted ()	1.32	1.44	1.24	4.33	3.76
Paid-up Equity Share Capital (Face Value of 2 each)	146.55	146.48	73.13	146.55	73.13

# Earnings per Share for corresponding period in previous year have been adjusted to give impact of bonus shares issued during June’2018.

NOTES :

The Company has adopted Indian Accounting Standards (Ind AS) with effect from April 1, 2018 with comparative figures being restated to make them comparable. The above financial results have been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 – Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 read with relevant Rules issued thereunder and other accounting principles generally accepted in India.
Further transition adjustments may be required to these financial results including those arising from new or revised standards or interpretations issued by the Ministry of Corporate Affairs and National Housing Bank, as applicable.
Loan Assets have increased from 14,775 crore as on December 31, 2017 to 16,852 crore as on December 31, 2018 registering a growth of 14%.
The Company’s main business is to provide loans for purchase or construction of residential houses. All other activities of the Company revolve around the main business. As such, there are no separate reportable segments, as per the Ind AS 108 “Operating Segments” specified under section 133 of the Companies Act, 2013.
As required by paragraph 32 of Ind AS 101, net profit reconciliation between the figures reported, net of tax, under erstwhile Indian GAAP and Ind AS is given below:

( in crore)

Particulars	Quarter ended Dec 31, 2017	Nine Months Ended Dec 31, 2017
Net Profit reported as per previous Indian GAAP	82.16	232.17
Add / (Less) : Adjustments for GAAP Differences
Increase in Employee Benefit Expenses due to Fair Valuation of Employee Stock options	(0.88)	(3.01)
Increase in Interest Income pursuant to application of Effective Interest Rate (EIR) Method	4.28	12.69
Increase in Borrowing cost pursuant to application of Effective Interest Rate (EIR) Method	(0.38)	(1.85)
Reclassification of net Actuarial loss on Employee defined Benefit obligation to Other Comprehensive Income (OCI)	0.22	0.53
Provision for Expected Credit Loss	(1.83)	14.84
Deferred Tax	7.27	19.28
Net Profit Before Other Comprehensive Income as per Ind AS	90.84	274.65
Other Comprehensive Income after Tax	(0.22)	(0.53)
Total Comprehensive Income as per Ind AS	90.62	274.12

During the nine months, the Company has allotted 12,90,020 (previous nine months 10,69,887) Equity Shares pursuant to exercise of stock options by employees.
The Board of Directors of the Company, at its meeting held on January 7, 2019, approved a Scheme of Amalgamation, for the merger of GRUH Finance Limited with Bandhan Bank Limited with effect from proposed Appointed Date of January 1, 2019, subject to regulatory and other approvals as applicable.
The financial results have been prepared in accordance with the circular no. LIST/COMP/27/2018-19 and NSE/CML/2018/32 issued by BSE and NSE respectively on November 22, 2018.

The above results for the quarter and nine-months ended December 31, 2018, which have been subjected to a ‘Limited Review’ by the Auditors of the Company, were reviewed and recommended by the Audit Committee of Directors and subsequently approved by the Board of Directors at its meeting held on January 25, 2019 in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.