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LIC HFL Q3 FY16

LIC HFL Q3 FY 2016 Profit after tax up 22% to Rs.418.90 crore
Revenue from operations up 16% to Rs.3102 crore,
Net Interest Income up 36% to Rs.747crore
Outstanding loan portfolio at Rs.117396 crore, up by 15%,
Individual loan Gross NPAs down from 0.33% to 0.32% ,Q3 FY 2016 Individual Loan Disbursements Rs.8067 crore, growth of 12%

 

Mumbai, January 16, 2016: The Board of Directors of LIC Housing Finance announced its un-audited results for the third quarter ended on December 31, 2015, following its approval by the Board of Directors in a meeting held in Mumbai on January 16, 2016.

Performance Highlights – 9 months FY16

  Quarter Ended December 2015 Quarter Ended December 2014 Variation
Revenue from operations 3102 2668 16%
Total Income incl other income 3157 2736 15%
Net Interest Income 747 549 36%
Profit before tax 646.02 521.51 24%
Net Profit after Tax 418.90 344.35 22%
Outstanding Loan Portfolio 117396 101944 15%
Gross NPA % 0.58% 0.57%  
Net NPA % 0.32% 0.31%  

1 crore = 10 million

The company's total income for Q3FY16 was Rs. 3157 crore as against Rs. 2736 crore during the same period previous year, a growth of 15%. Revenue from operations grew 16% from Rs. 2668 crore to Rs. 3102 crore. Net interest income was Rs. 747 crore, registering a growth of 36% over the same period last year.

Profit before tax for the quarter was Rs.646.02 crore a growth of 24% over the same period in the previous year. Net profit after tax for the Q3FY16 was Rs. 418.90 crore as compared to Rs.344.35 crore in the corresponding period previous year, thus showing a growth of 22%.

During the quarter, in the individual loan segment the company disbursed loans of Rs. 8067 crore as against Rs.7184 crore for Q3FY15, a growth of 12%. Disbursements in the developer loan segment were Rs 354 crore and Rs 448 crore respectively during the corresponding quarters. The outstanding mortgage portfolio as on December 31, 2015 was Rs.117396 crore as against Rs.101944 crore on December 31, 2014, thus registering a growth of 15%. The Individual loan portfolio stood at Rs.114305 crore as against Rs. 99362 crore, a growth of 15%. Developer loan portfolio stood at Rs.3091 crore as on December 31, 2015 as against Rs.2582 crore as on December 31, 2014, a growth of 20%.

Total Gross NPAs for the company including NPAs on developer loans was 0.58% as on December 31, 2015 as against 0.57% as on December 31, 2014. Gross NPAs in individual segment was 0.32% as on December 31, 2015 as against 0.33% as on December 31, 2014.

Net NPAs stood at 0.32% as on December 31, 2015 as against 0.31% as on December 31, 2014.

Total provision including general provision on standard loans is Rs.788 crore as on December 31, 2015 against Gross NPAs of Rs. 682 crore on the same date.

Net interest margins for the Q3FY16 stood at 2.58% as against 2.20% for Q3FY15.

 

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