LIC Housing Finance reported a 12 per cent increase in net profit at ₹573 crore in the second quarter ended September 30, 2018, against ₹514 crore in the year-ago quarter.

Interest income was up 11 per cent year-on-year (y-o-y) at ₹4,151 crore (₹3,744 crore in the year-ago quarter). Finance cost rose 13 per cent to ₹3,138 crore (₹2,780 crore).

Net interest income edged up 5 per cent y-o-y to ₹1,012 crore against ₹963 crore in the same period in the previous year.

Total loan disbursements were up 30 per cent to ₹14,272 crore against ₹10,975 crore in the corresponding period in the previous year.

Vinay Sah, MD & CEO, LIC Housing Finance, said: “In the second quarter of the financial year, we have seen strong disbursal growth and expect the trend to continue in future quarters.

“The company recorded a strong growth in the affordable segment both in value and volume terms, and is poised to continue its growth trajectory.”

Sah underscored that the company continues to enjoy comfortable liquidity position.

Net interest margin for the reporting quarter was a shade lower at 2.35 per cent against 2.38 per cent in the year-ago quarter.

Gross non-performing assets (GNPAs) rose to 1.20 per cent of gross loans as on September 30, 2018, against 0.80 per cent as on September 30, 2017.

Gross NPAs in individual segment increased to 0.81 per cent as on September 30, 2018, against 0.44 per cent as on September 30, 2017.

LIC Housing Finance shares closed at ₹417.10 apiece, up 2.91 per cent over the previous close on the BSE.

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