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LIC HFL Q2 FY16

LIC HFL Q2 FY 2016 Profit after tax up 21% to Rs 411.73 crore
Revenue from operations up 17% to Rs. 3026 crore,
Net Interest Income up 35% to Rs 717 crore
Outstanding loan portfolio at Rs. 114069 crore, up by 17%,
Individual loan Gross NPAs down from 0.38% to 0.33% Q2 FY16 Loan Disbursements Rs 8390 crore, growth of 17%

 

Mumbai, October 15, 2015: The Board of Directors of LIC Housing Finance announced its un-audited results for the second quarter ended on September 30, 2015, following its approval by the Board of Directors in a meeting held in Mumbai on October 15, 2015.

Performance Highlights – Q2FY16

  Quarter Ended September 2015 Quarter Ended September 2014 Variation
Revenue from operations 3026 2596 17%
Total Income incl other income 3089 2659 16%
Net Interest Income 717 532 35%
Profit before tax 644.24 516.98 25%
Net Profit after Tax 411.73 341.35 21%
Outstanding Loan Portfolio 114069 97528 17%
Gross NPA % 0.60% 0.63%  
Net NPA % 0.32% 0.33%  

1 crore = 10 million

The company's total income for Q2FY16 was Rs. 3089 crores as against Rs. 2659 crores during the same period previous year, a growth of 16%. Revenue from operations grew 17% from Rs. 2596 crores to Rs. 3026 crores. Net interest income was Rs. 717 crores, registering a growth of 35% over the same period last year.

Profit before tax for the quarter was Rs.644.24 crores a growth of 25% over the same period in the previous year. Net profit after tax for the Q2FY16 was Rs. 411.73 crores as compared to Rs.341.35 crores in the corresponding period previous year, thus showing a growth of 21%.

During the quarter, the company disbursed loans of Rs. 8390 crores as against Rs. 7196 crores for Q2FY15, a growth of 17%. The outstanding mortgage portfolio as on September 30, 2015 was Rs.114069 crores as against Rs.97528 crores on September 30, 2014, thus registering a growth of 17%. The Individual loan portfolio stood at Rs. 111076 crores as against Rs. 95130 crores, a growth of 17%. Developer loan portfolio stood at Rs.2993 crores as on September 30, 2015 as against Rs.2399 crores as on September30, 2014, a growth of 25%.

Total Gross NPAs for the company including NPAs on developer loans was Rs. 683 crores or 0.60% as on September 30, 2015 as against Rs. 611 crores or 0.63% as on September 30, 2014. Gross NPAs in individual segment was 0.33% as on September30, 2015 as against 0.38% as on September 30, 2014.

Net NPAs stood at 0.32% as on September 30, 2015 as against 0.33% as on September 30, 2014.

Total provision including general provision on standard loans is Rs.779 crores as on September30, 2015 against Gross NPAs of Rs. 683 crores on the same date.

Net interest margins for the Q2FY16 stood at 2.56% as against 2.23% for Q2FY15.

 

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