Stock Market update: LIC Housing Fin shares up by 13% post Q3 results

Net interest margin (NIM) improved to 2.42 per cent as against 2.36 per cent. Net interest income (NII) was boosted by 14 per cent to Rs 1,455 crore, as against Rs 1,281 crore for the same period in the previous year.

Shares of the mortgage lender, LIC Housing Finance Ltd jumped over 13.62 per cent at each share valued at Rs 392.55 (47.05) today
at 12:03 pm IST on the National Stock Exchange after quarter three results were released by the company.

The company has improved its net interest margin. LIC Housing Finance (LICHFL) on Thursday reported a 6 per cent increase in profit after tax (PAT) at Rs 767.33 crore for the quarter that ended on December 31, 2021, against Rs 727.04 crore in the same period of the previous fiscal.

“The income levels were more or less maintained. Our collections were good during the three months of the quarter. Recovery also picked up across all the regions. Even the provisions were less in the quarter because of the provisions we had made earlier,” said the company’s Managing Director and CEO Y. Viswanatha Gowd.

Net interest margin (NIM) improved to 2.42 per cent as against 2.36 per cent. Net interest income (NII) was boosted by 14 per cent to Rs 1,455 crore, as against Rs 1,281 crore for the same period in the previous year.

The individual loan portfolio was Rs 2,29,321 crore, compared to Rs 2,04,444 crore earlier, a growth of 12 per cent. The project loan portfolio was at Rs 14,091 crore against Rs 15,753 crore as of December 31, 2020. The total outstanding portfolio rose by 11 per cent to Rs 2,43,412 crore from Rs 2,20,197 crore.

On 31 March 2016, 48.49% of the equity shares of the company were owned by LIC. the Foreign Institutional Investors (FII) held approx. 32% of the shares. Around 158,000 individual public shareholders own approximately 9% of their shares. The remaining 18% of shares are owned by Others.

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