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Press Releases December,2013

LIC Housing Finance Q3 FY14 Net Profit Rs 326.59 crore, up by 38%
Income from operations up 21% to Rs. 2343crore,
Individual Loan portfolio at Rs.83839crore, up by 20%,
Individual Loan Gross NPAs down from 0.52% to 0.40%

Mumbai, January 16, 2014: The Board of Directors of LIC Housing Finance announced its un-audited results for the third quarter ended on December 31, 2013 following its approval by the Board of Directors in a meeting held in Mumbai on January 16, 2014.

Performance Highlights – Q3 FY14

(Figures in Rs. crores)

  Quarter Ended December 2013 Quarter Ended December 2012 Variation
Income from operations 2343 1935 Up by 21%
Net Interest Income 458 370 Up by 24%
Profit before tax 456.25 320.50 Up by 42%
Profit after tax 326.59 236.25 Up by 38%
Outstanding Loan Portfolio-Individual 83839 69885 Up by 20%
Individual Loans Gross NPA 0.40% 0.52%  

1 crore = 10 million

For the quarter ended December 31, 2013, the company recorded a total income of Rs.2376 crore as against Rs.1955 crore during the same period last year, a growth of 22%. Income from operations was Rs. 2343 crore as against Rs.1935 crore, a growth of 21%.

Net profit for Q3 was Rs.326.59 crore as compared to Rs.236.25 crore in the corresponding period last year, a growth of 38%.

During the Q3, the Company sanctioned Rs 6415 cr in the individual loan segment, a growth of 10% over the corresponding period in the previous year. Loan disbursements in the quarter were Rs 5832 cr as against Rs 5508 cr in the corresponding period in the previous year.

In the developer loan segment, the Company sanctioned and disbursed Rs 343 cr & Rs 297 cr respectively during the quarter.

The Net Interest Income for the quarter was Rs. 458 crore as against Rs.370 crore for the same period last year, a growth of 24%. Net Interest Margins stood at 2.16% as on December 31, 2013 as against 2.09% for the quarter ended December 31, 2012.

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