LIC Housing Finance has reported a 20 per cent year-on-year increase in net profit at Rs 495 crore against Rs 412 crore in the year ago period.
Net interest income (the difference between interest earned and expended) was up 20 per cent y-o-y at Rs 866 crore.
During the quarter, the company disbursed loans of Rs 9123 crore, up about 9 per cent over the corresponding year ago period disbursement of Rs 8,390 crore.
The outstanding mortgage portfolio as on September 30, 2016, was Rs 1,31,096 crore against Rs 1,14,069 crore on September 30, 2015, thus registering a growth of 15 per cent.
Net interest margin for the reporting quarter stood at 2.68 per cent as against 2.56 per cent for the year ago period.
Gross non-performing as a proportion of gross advances edged a tad lower to 0.57 per cent from 0.60 per cent in the year ago quarter.
Sunita Sharma, MD & CEO, said “The quarter has looked positive for LIC Housing Finance with robust loan growth and consistently strong asset quality and improvement in margins. We continue to remain optimistic on our future performance during the balance half of the current financial year.”