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Mumbai, May 4
LIC Housing Finance Ltd (LICHFL) reported a 17 per cent year-on-year (yoy) increase in net profit at ₹ 694 crore in the fourth quarter March 31, 2019 against ₹594 crore in the year ago period.
The company’s board recommended a dividend of ₹7.60 per equity share of ₹2 each (380 per cent).
Net interest income (interest earned minus interest expended) was up 21 per cent at ₹1,201 crore (₹989 crore in the year ago period).
“During the quarter ended March 31, 2019, total disbursements recorded a growth of 7 per cent from ₹17,402 crore to ₹18,649 crore.
“Out of that, disbursements in the individual home loan segment registered a 18 per cent growth from ₹10,541 crore to ₹12,448 crore, whereas total disbursements in project loans was ₹2,031 crores as against ₹2,266 crore for Q4FY18,” the company said in a statement.
Total outstanding portfolio stood at Rs. 1,94,646 crore, a growth of 16 per cent over corresponding period of last year. The individual loan portfolio stood at ₹1,81,569 crore (up 14 per cent yoy). Developer loan portfolio stood at ₹ 13,077 crore (up 61 per cent y-o-y).
Gross non-performing assets (GNPAs) rose to 1.53 per cent of gross advances as on March 31, 2019 as against 0.78 per cent as on March 31, 2018.
Net Interest Margin for Q4 FY19 improved to 2.54 per cent as against 2.44 per cent for Q4FY18.
LIC Housing Finance, Managing Director & CEO, Vinay Sah said, “… The Company has witnessed growth coming in from different sectors across the country. We are confident of further improvement on all operational areas in FY2020.
“During the year, the company has done exceptionally well in the area of affordable housing wherein more than 45,000 accounts were disbursed. This year we are opening 9 new marketing centres with a specific focus on affordable housing.”
Net profit in FY2019 increased 21 per cent to ₹ 2,431 crore as against ₹ 2,002.50 crore in FY2018.
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