LIC Housing Finance Q1 Net Profit up by 21 percent
LIC Housing Finance announced its first quarter, 2011-12 results on Wednesday.The company posted an increase of 21 percent in its net profit to Rs 256.50 crore inQ1, 2011-12, as compared to Rs 212.02 crore in the year ago period.
The company’s total income increased by 40 % to Rs 1,418 crore in Q1,2011-12, as compared to Rs 1,015 crore in the same quarter of last year. The individual loan disbursements of the company grew by 15 % to Rs 3,468crore in the 30 June 2011 ended quarter, as compared to Rs 3,018 crore in the firstquarter of 2010-11.The company’s total loan portfolio including project loans wasRs. 3,545 crore for Q1, 2011-12 as against Rs 3,392 crore for the same period inthe previous year.
LIC Housing Finance posted a 23 % increase in its net interest income to Rs361 crore in the April-June quarter of 2011-12, as compared to Rs 294 crore inthe year ago period. Its gross NPAs are down to 0.84 % in Q1, 2011-12, ascompared to 0.92 % in Q1, 2010-11, while its net NPAs were the same asthe year ago quarter at 0.35 % .The net interest margin of the company forthe April-June quarter of 2011-12 declined to 2.78 %, as compared to 3.01% in the year ago period.
The company’s outstanding mortgage portfolio increased by 32 % to Rs52,876 crore in Q1, 2011-12, as compared to Rs 40,030 crore in the same quarterof last year. The company was able to maintain a healthy profit margin despitea 48 percent year -on -year increase in costs in Q1,2011-12.Its Profit before taxincreased by 19 % to Rs 345.42 crore in Q1, 2011-12, as compared to Rs289.34 crore in the year ago period. The EPS of the company stood at Rs 5.40 pershare for the quarter ended 30 June, 2011-12, as compared to Rs 4.47 in the yearago period.
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