LIC Housing Finance (LICHFL) has reported a 19 per cent increase in net profit at ₹499 crore in the third quarter ended December 31, 2016, compared to ₹419 crore in the year-ago quarter.

The housing finance company’s net interest income (the difference between interest earned and interest expended) was up 23 per cent year-on-year (yoy) at ₹915 crore (₹747 crore in the year-ago quarter).

Net interest margin improved to 2.75 per cent (2.58 per cent in the year-ago quarter). During the quarter, loans disbursed by the company increased by 15 per cent at ₹9,684 crore (₹8,422 crore). Disbursements in the individual loan category was ₹8,555 crore (₹8,067 crore).

Outstanding mortgage portfolio as on December 31, 2016, was ₹1,35,366 crore as against ₹1,17,396 crore on December 31, 2015, registering a growth of 15 per cent.

The individual loan portfolio grew 15 per cent y-o-y to ₹1,30,878 crore (₹1,14,305 crore). The developer loan portfolio stood at ₹4,488 crore as on December 31, 2016, against ₹3,091 crore a year ealier.

Gross non-performing assets to total loans declined a shade to 0.56 per cent from 0.58 per cent in the year-ago quarter. “In a quarter which was one of the most eventful ones in recent times, the company recorded healthy results displaying excellent resilience based on its strong fundamentals and core values.

“It registered steady and consistent loan growth and margin improvement with improved asset quality. With growth expected to improve in the coming quarters, the company is poised for a strong Q4 (January-December) to conclude the current financial year,” said Sunita Sharma, MD & CEO, LIC Housing Finance.

LICHFL’s shares ended at ₹540.30 a share, up 1.86 per cent over the previous close on the BSE.

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