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Press Releases September,2012

LIC Housing Finance Q2 Net Profit Rs 243.06 cr up by 147%
Individual Loan Disbursements up by 21%,
Income from operations Rs.1840 cr up by 23%,
Outstanding Loan Portfolio Rs.69119 cr up by 23%,
Gross NPAs down from 0.64% to 0.60%

Mumbai, October 31, 2012: : The Board of Directors of LIC Housing Finance announced its un-audited results for the second quarter ended on September 30, 2012 following its approval by the Board of Directors in a meeting held in Mumbai on October 31, 2012.

Performance Highlights-Q2 FY 2013

(Figures in Rs. crores)

  Quarter Ended September 2012 Quarter Ended September 2011 Variation
Individual Loan Sanctions 5716 4736 Up by 21%
Interest Income on Housing Loans 1808 1458 Up by 24%
Total Income 1862 1515 Up by 23%
Net Interest Income 354 334 Up by 6%
Profit after Tax 243.06 98.39 Up by 147%
Outstanding Loan Portfolio 69119 56098 Up by 23%
Gross NPA (%) 0.60% 0.64%  

1 crore = 10 million

The Company has recorded a healthy growth in business during the second quarter ended September 2012. The Company disbursed loans of Rs. 5716 crores in the Individual loans segment, registering a growth of 21%over the second quarter of the previous year. Loan disbursements to developers for the quarter stood at Rs.121 crores.

The Company’s total Income for the second quarter ended September 2012 was Rs.1862 crores as against Rs. 1515 crores during the same period last year, registering a growth of 23%. Net profit for the Q2 was Rs.243.06 crores as compared to Rs.98.39 crores in the corresponding period last year, a growth of 147 %.

Net Interest Margins for the Q2 FY13 stood at 2.10% against 2.18% for the Q1 of FY13.

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