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LIC Housing Finance's Q4FY16 standalone net profit rises18% yoy to Rs.448 crore : In line with estimates
The company’s standalone NII stood at Rs. 862.13 crore, up by 26.39% yoy and 9.92% qoq.
Apr 18, 2016 09:04 IST India Infoline News Service
LIC Housing Finance Ltd, home loan NBFC, reported standalone net profit of Rs. 448.01 crore for the quarter ended March 31, 2016, registering growth of 18.46% yoy and 6.95% qoq. It's Net Interest Income (NII) for the quarter stood at Rs. 862.13 crore, clocking growth of 26.39% yoy and 9.92% qoq.
For the year ended March 31, 2016, the company reported net profit of Rs. 1,660.78 crore, registering growth of 19.81% yoy. It's NII for the current period of Rs. 3,089.38 crore was up 30.96% yoy.
On consolidated basis, for the year ended the company reported net profit of Rs. 1,667.69 crore, rising by 19.49%. It reported total income from operations of Rs. 12,410.34 crore, recording growth of 16.04%.
Rationale:
LIC Housing Finance Ltd Q4FY16 earnings were broadly in-line with estimates. Both the top-line and bottom-line came slightly below IIFL Estimates by 1.36% and 2.18%. Main reason for bad performance were tax expenses which stood at Rs. 246.25 crore growing 8.42% qoq and 24.93% yoy. Other expenses at Rs. 31.89 crore rose by 21% qoq and 15% yoy. Also the provisions rose by 9.32% qoq and clocked nearly three-folds jump yoy.
Result Highlights: (Rs. in crore)
For the year ended March 31, 2016, the company reported net profit of Rs. 1,660.78 crore, registering growth of 19.81% yoy. It's NII for the current period of Rs. 3,089.38 crore was up 30.96% yoy.
On consolidated basis, for the year ended the company reported net profit of Rs. 1,667.69 crore, rising by 19.49%. It reported total income from operations of Rs. 12,410.34 crore, recording growth of 16.04%.
Rationale:
LIC Housing Finance Ltd Q4FY16 earnings were broadly in-line with estimates. Both the top-line and bottom-line came slightly below IIFL Estimates by 1.36% and 2.18%. Main reason for bad performance were tax expenses which stood at Rs. 246.25 crore growing 8.42% qoq and 24.93% yoy. Other expenses at Rs. 31.89 crore rose by 21% qoq and 15% yoy. Also the provisions rose by 9.32% qoq and clocked nearly three-folds jump yoy.
Result Highlights: (Rs. in crore)
| Reported Results | IIFL Estimates | Variance (%) | |
| Standalone Revenue | 862.13 | 874 | [1.36] |
| Standalone Net Profit | 448.01 | 458 | [2.18] |
Standalone EPS for the quarter stood at Rs. 8.88.
Bloomberg estimated the company’s standalone net profit at Rs. 4,653.81 crore.
Corporate Action :
LIC Housing Finance' board of directors at its meeting held on April 18, 2016 have approved recommendation of dividend for financial year 2015-2016 @ 275% i.e. Rs. 5.50 per equity share of Rs. 2/-each. The dividend on equity shares, will be paid on or after August 20, 2016.
Stock Commentary:
LIC Housing Finance Ltd is currently trading at Rs. 483.55, up by 2.75 points or 0.57% from its previous closing of Rs. 480.8 on the BSE.
The scrip opened at Rs. 482.6 and has touched a high and low of Rs. 490 and Rs. 479.7 respectively. So far 3385445(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 24263.57 crore.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 526 on 06-Aug-2015 and a 52 week low of Rs. 389 on 25-Feb-2016. Last one week high and low of the scrip stood at Rs. 487.4 and Rs. 461.9 respectively.
The promoters holding in the company stood at 40.31 % while Institutions and Non-Institutions held 33.66 % and 26.03 % respectively.
The stock is currently trading below its 200 DMA.
