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LIC Housing Finance net profit declines to 68% in Q2 FY22

09:46 AM Oct 22, 2021 | Agencies

LIC Housing Finance Ltd (LICHFL) on Thursday reported a 68.66 per cent decline in its standalone profit after tax at Rs 247.86 crore in the September quarter on higher provisioning for non-performing loans.

It had posted a profit after tax of Rs 790.90 crore in the corresponding quarter of the previous fiscal.

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Total disbursements rose 29 per cent to Rs 16,110 crore as against Rs 12,443 crore. Individual home loan disbursements stood at Rs 14,330 crore compared to Rs 10,373 crore while project loans were at Rs 353 crore as against Rs 803 crore. The figures are for year-on-year basis.

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The total loan portfolio grew 11 per cent to Rs 2,37,660 crore from Rs 2,13,349 crore. Of this, individual home loans grew at 15 per cent to Rs 1,88,348 crore from Rs 1,63,218 crore.

The net interest income dipped to Rs 1,173 crore from Rs 1,238 crore in the same quarter of the previous fiscal.

Net interest margins declined to 2 per cent in the latest September quarter.

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