LIC Housing Finance Ltd shows 16 pc growth in Q3

LIC Housing Finance Ltd shows 16 pc growth in Q3

Agency News

Bengaluru, Jan 30: The board of directors of LIC Housing Finance Ltd announced its un-audited results for the third quarter ended on December 31, following approval by the board of directors in a meeting held in Mumbai on January 30.

Total disbursements were Rs 13177 cr in Q3 as against Rs 12778 cr for the corresponding period last year. Of this, disbursement in individual home loan segment registered a healthy growth of 16 per cent from Rs 9170 cr to Rs 10655 cr, whereas project loans were Rs 931 cr compared to Rs 1238 cr.

The company's revenue from operations grew 13 pc from Rs 4439 cr to Rs 4996 cr. Net Interest Income (NII) was Rs 1228 cr, as against Rs 1043 cr for the same period the previous year, posting a growth of 18 pc. Profit Before Tax for the quarter declined by 13 pc from Rs 859.59 cr to Rs. 745.32 crs. Net Profit after tax stood at Rs 597.53 cr compared to Rs 596.31 cr during the same period in the previous year.

Project Loan portfolio stood at Rs 13233 cr against Rs 10895 cr. Total outstanding portfolio grew at 13 pc from Rs 181553 cr to Rs 205692 cr. Net Interest Margin (NIM) was 2.42 per cent as against 2.33 last year. (UNI)