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Press Releases Q1 FY 15
LIC HFL Q1 FY 2015 Income from operations up 17% to Rs. 2509 crore,
Outstanding loan portfolio at Rs. 93609 crore, up by 17%,
Individual loan Gross NPAs down from 0.51% to 0.40%
Profit before Tax up 15% to Rs 488 crore

Mumbai, July 25, 2014: The Board of Directors of LIC Housing Finance announced its un-audited results for the first quarter ended on June 30, 2014, following its approval by the Board of Directors in a meeting held in Mumbai on July 25, 2014.

Performance Highlights – Q1 FY 2015

(Figures in Rs. crores)

  Quarter Ended June 2014 Quarter Ended June 2013 Variation
Income from operations 2509 2149 17%
Total Income incl other income 2544 2178 17%
Net Interest Income 506 455 11%
Profit before tax 488 424 15%
Net profit after tax before adjustment of Deferred Tax Liability on Special Reserve 355 311 14%

1 crore =10 million

The company's total income for Q1 FY15 was Rs. 2544 crores as against Rs.2178 crores during the same period previous year, a growth of 17%. Revenue from operations grew 17% from Rs. 2149 crores to Rs. 2509 crores. Net interest income was Rs 506 crores, registering a growth of 11% over the same period last year.

Profit before tax for the quarter was Rs.488 crores a growth of 15% over the same period in the previous year. Net profit after tax before adjustment of Deferred Tax on Special Reserves for the Q1 FY15 was Rs. 355 crores as compared to Rs.311 crores in the corresponding period previous year, thus showing a growth of 14%.

During the quarter, the Company has provided Rs 32.21 crore as Deferred Tax Liability on Special Reserves in accordance with the National Housing Bank circular Ref. NHB(ND)/DRS/Pol.Circular No 62/2014 dated 27.5.2014. After providing for the abovementioned Deferred Tax Liability of Rs 32.21 crore, the Net Profit for the quarter stood at Rs 322.13 crore as against Rs 310.51 crore for the corresponding period last year.

Net interest margins for the Q1 FY15 stood at 2.19% as against 2.30% for Q1 FY14.

The outstanding mortgage portfolio as on June 30, 2014 was Rs.93609 crores as against Rs.80137 crores on June 30, 2013, thus registering a growth of 17%. The Individual loan portfolio stood at Rs 91059 crores as against Rs 77727 crores, a growth of 17%. Developer loan portfolio stood at Rs.2551 crores as on June 30, 2014 as against Rs.2410 crores as on June 30, 2013.

Total Gross NPAs for the company including NPAs on developer loans was 0.80% as on June 30, 2014 as against 0.80 % as on June 30, 2013. Gross NPAs in individual segment 0.40% as on June 30, 2014 as against Rs 0.51% as on June 30, 2013.

Net NPAs stood at 0.49% as on June 30, 2014 as against 0.52% as on June 30, 2013.

Total provision including general provision on standard loans is Rs.719 crores as on June 30, 2014 against Gross NPAs of Rs 753 crores on the same date.

 
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