LIC Housing Finance profit rises 35% to Rs 772.20 crore in Q2

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Published: October 20, 2019 2:52:06 AM

The total disbursements came in at Rs 12,173 crore in July-September period, a 14.8% decrease compared to Q2FY19. The disbursal of individual home loans registered a growth of 16% to Rs 10,136 crore.

LIC, Housing Finance, LIC profit, Q2 resultsNet interest margin, a key measure of profitability, stood at 2.42%, a one basis point rise from last year.

LIC Housing Finance on Saturday reported a 35% year-on-year (YoY) growth in net profit to Rs 772.20 crore for the quarter ended September on the back of lower tax expenses. The company earned a net interest income—the difference between interest earned and interest expended—of Rs 1213 crore in the quarter, a growth of 16% compared to the year-ago period.

Net interest margin, a key measure of profitability, stood at 2.42%, a one basis point rise from last year. While the total income of the company came in at Rs 4,979 crore and registered an 18% YoY increase, the tax expense came down to Rs 83.66 crore from Rs 230.21 crore in the previous quarter.

The total disbursements came in at Rs 12,173 crore in July-September period, a 14.8% decrease compared to Q2FY19. The disbursal of individual home loans registered a growth of 16% to Rs 10,136 crore.

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