Shares of LIC Housing Finance fell 6% in Monday’s trading session due to disappointing Q1 results.
Key Points:
- Net Profit Decline:
- LIC Housing Finance reported a net profit of Rs 1,300.21 crore for the quarter ended June 30, 2024.
- This marks a 1.8% decline compared to the net profit of Rs 1,323.66 crore a year ago.
- Net Interest Income:
- The net interest income for Q1 was Rs 1,988.8 crore.
- This is a 10% decrease from Rs 2,209.4 crore in the same quarter last year.
- Disbursements and NIM:
- Q1 disbursements were down by 29.2%.
- Net Interest Margin (NIM) decreased to 2.76% from 3.15% in the previous quarter.
Asset Quality:
- Gross NPA Ratio:
- Improved slightly to 3.21% from 3.31% in the previous quarter.
- Net NPA Ratio:
- Increased marginally to 1.68% from 1.63% in the previous quarter.
Financials:
| Category | Q1 FY2024 | Q1 FY2023 | Change |
|---|---|---|---|
| Net Profit | Rs 1,300.21 crore | Rs 1,323.66 crore | -1.8% |
| Net Interest Income | Rs 1,988.8 crore | Rs 2,209.4 crore | -10% |
| Total Expenses | Rs 5,155.26 crore | Rs 5,097.56 crore | +1.13% |
| Finance Costs | Rs 4,750.05 crore | Rs 4,500.38 crore | +5.6% |
| Interest Income | Rs 6,739.13 crore | Rs 6,706.34 crore | +0.5% |
As of 9:15 AM, the shares were trading 5.90% lower at ₹704.40 on NSE
TOPICS:
LIC Housing Finance