LIC Housing Finance declares Q1FY17 results

On July 15, stock price of LIC Housing has gained 4.04 per cent or Rs 20.45 and stands at Rs 527.00, after the Q1FY17 result declaration.The stock has hit day’s high of Rs 529 .70 and low of Rs 503.25.

LIC Housing Finance has declared its Q1FY17 result on Friday. The company’s revenue from Operation has grown by 3.5 per cent to Rs 3326 core from Rs 3205 core in Q4FY16 on a quarterly basis. Whereas EBITDA has risen by 2 per cent to Rs 3107 core from Rs 3053 crore in Q4FY16. Meanwhile PAT declined by 9.15 per cent to Rs 407 from Rs 448 in Q4FY16; and by 6.54 per cent from Rs 382 in Q1FY16 on a quarterly
basis. 

Other Income for the current quarter includes income from Investments in various liquid schemes of mutual funds of Rs 994.89 lacs (Rs 1119 lacs on previous quarters) and interest on bank deposits and certificate of deposits Rs. 333.48 lacs (Rs 386.44 lacs in previous quarters). On yearly front revenue has grown by 14.06 per cent from Rs 2917 crore in Q1FY16 and EBITDA has grown by 10.38 per cent from Rs 2820 core in Q1FY16. Whereas the PAT has grown by 6.44 per cent from Rs 382 core. In Q1FY17 Interest expenses of the company  have risen by 4.7 per cent, whereas the other Income has decreased by 26.76 per cent.

LIC Housing Finance Ltd., is an India based housing finance company.The main objective of the Company is providing long term finance to individuals for purchase / construction / repair and renovation of new/ existing flats / houses. The Company also provides finance on existing property for business / personal needs and gives loans to professionals for purchase / construction of Clinics / Nursing Homes /Diagnostic Centres / Office Space and also for purchase of equipment.