NEW DELHI: LIC Housing Finance has reported a growth of 11.20 per cent in its net consolidated profit during the quarter ended September 30, 2024. Its profit after tax stood at Rs 1,327.29 crore as against Rs 1,193.57 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 6,938.31 crore in Q2 FY25, a growth of 2.55 per cent from Rs 6,765.87 crore it recorded in the similar quarter last year.
Tribhuwan Adhikari, managing director & chief executive officer of the company said, “With stable interest rates, we expect steady growth in the next two quarters. As we enter the festive season, we are optimistic about our future growth during the next two quarters of this financial year.”
As on September 30, 2024, its net worth stood at Rs 31,241 crore, debt-equity ratio was 8.42, total debts to total assets was 0.88%, operating margin was 24.02%, net profit margin was 19.17%, gross non-performing assets (NPA) was 3.05% and net NPA was 1.57%.
The company’s outstanding loan portfolio was up by 6% to Rs 2,94,588 crore, under which individual home loan portfolio up by 7% to Rs 2,50,879 crore.
During the six months ended September 30, 2024, the total disbursements for the company stood at Rs 29,391 crore as against Rs 25,521 crore for the same period of the previous year, registering a growth of 15%. Out of this, the individual home loan segment registered a disbursement of Rs 23,983 crore in H1 FY25, as against Rs 21,935 crore for H1 FY24, up by 9%; whereas project loans were Rs 19,18 crore in H1 FY25 as against Rs 684 crore for H1 FY24, recording a growth of 180%.
As on September 30, 2024, total ECL provision stood at Rs 5,458 crore and stage 3 EAD was at 3.06%.
During the quarter, it has done technical write off of Rs 286 crore.
Source Homevior.in
