Q3FY17 Quarterly Result: LIC Housing Finance Ltd
Bhagyashree Vivarekar / 16 Jan 2017
The company's net profit for the quarter surged 0.9 per cent QoQ and 19.2 per cent YoY to Rs 499.3 crore. The company’s NPA stood at a healthy 0.56 per cent, while NIM was reported at 2.75 per cent.
LIC's net interest income for the quarter grew 5.7 per cent sequentially and 22.6 per cent YoY to Rs. 915.4 crore. The interest earned increased 13.2 per cent YoY, while interest expenses grew 10.3 per cent YoY.
However, the company’s provisions for bad loans surged 49.4 per cent QoQ and 31.5 per cent YoY to Rs 45.3 crore.
The company's net profit for the quarter surged 0.9 per cent QoQ and 19.2 per cent YoY to Rs 499.3 crore. The company’s NPA stood at a healthy 0.56 per cent, while NIM was reported at 2.75 per cent.
LIC Housing Finance Ltd. is one of the largest housing finance company in India. The main objective of the company is providing long term finance to individuals for purchase, construction, repair and renovation of new and existing flats and houses. The company also provides finance on existing property for business, personal needs and gives loans to professionals for purchase and construction of clinics, nursing homes, diagnostic centres, office space and also for purchase of equipments.
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