LIC Housing Finance reported 6% rise in the net profit to Rs 767.33 crore in the quarter ended December 2021 (Q3FY2022). Net interest income (NII) of the company jumped 14% to Rs 1454.62 crore in Q3FY2022, while snapping 6% decline in the previous quarter. The growth in NII is supported by rebound in net interest margin (NIM) to 2.42% in Q3FY2022 from 2.00% in the previous quarter and 2.36% in the corresponding quarter last year. The other income increased 46% to Rs 69.82 crore. The net total income moved up 15% to Rs 1524.44 crore.
Operating expenses jumped 17% to Rs 193.82 crore, allowing 14% rise in the operating profit to Rs 1330.62 crore. However, the provisions zoomed 96% to Rs 355.56 crore in Q3FY2022 from Rs 180.95 crore in Q3FY2021. Depreciation rose 5% to Rs 13.21 core from Rs 12.63 core. PBT declined 1% to Rs 961.85 crore. An effective tax rate eased to 20.22% in Q3FY2022 from 25.02% in Q3FY2021. The net profit increased 6% to Rs 767.33 crore in Q3FY2022.
Business updates
In the quarter ended December 2021, total disbursements rose 5% to Rs 17770 crore from Rs 16857 crore in Q3FY2021. Out of that, disbursements in the individual home loan segment moved up 6% to Rs 15341 crore, whereas disbursements in project loans dipped 66% to Rs 293 crore and other retail loans increased by 43% to Rs 2136 crore in Q3FY2022.
The total loan portfolio rose 11% to Rs 243412 crore end December 2021 as against Rs 220197 crore end December 2020. The Individual loan portfolio stood at Rs 229321 crore as against Rs 204444 crore, showcasing a growth of 12%.
Developer loan portfolio declined 11% to Rs 14091 crore end December 2021 as against Rs 15753 crore end December 2020.
The Loan Mix is – retail loans – 80.5%, developers loans – 5.8% and retail LAP/LRD/etc – 13.7%
Net Interest margins jumped to 2.42% in Q3FY2022 as against 2.36% in Q3FY2021. The weighted average cost of funds eased to 6.69% in Q3FY2022 from 6.76% a quarter ago and 7.25% a year ago. The weighted yield on advances eased to 8.52% in Q3FY2022 from 8.72% a quarter ago and 9.51% a year ago.
The gross stage 3 (GNPA) exposure at default eased to 5.04% end December 2021 from 5.14% a quarter ago and jumped from 1.34% a year ago. The company has reduced provisions to Rs 4876.37 crore end December 2021 from Rs 5294.52 crore a quarter ago and while raised from Rs 2948.05 crore a year ago.
Book value of the company stood at Rs 431.02 per share and adjusted book value (net of net stage 3 assets) stood at Rs 296.73 per share end December 2021.
Financial Performance 9MFY2022
LIC Housing Finance reported 50% decline in the net profit to Rs 1168.64 crore in the nine months ended December 2021 (9MFY2022). Net interest income (NII) of the company rose 4% to Rs 3897.32 crore in 9MFY2022. The other income jumped 73% to Rs 145.22 crore. The net total income increased 6% to Rs 4042.54 crore.
Operating expenses jumped 62% to Rs 729.26 crore, causing 2% dip in the operating profit to Rs 3313.28 crore. Further, the provisions zoomed to Rs 1811.31 crore in 9MFY2022 from Rs 340.42 crore in 9MFY2021. Depreciation rose 3% to Rs 38.23 core from Rs 37.18 core. PBT dipped 51% to Rs 1463.74 crore. An effective tax rate eased to 20.16% in 9MFY2022 from 22.06% in 9MFY2021. The net profit declined 50% to Rs 1168.64 crore in 9MFY2022.
|
LIC Housing Finance: Standalone Results |
|||||||||
|
2112 (3) |
2012 (3) |
Var % |
2112 (9) |
2012 (9) |
Var % |
2103 (12) |
2003 (12) |
Var % |
|
| Interest Inc. | 5000.57 | 4876.07 | 3 | 14499.21 | 14799.31 | -2 | 19697.11 | 19605.35 | 0 |
| Interest Exp. | 3545.95 | 3595.05 | -1 | 10601.89 | 11059.71 | -4 | 14452.58 | 14783.86 | -2 |
| Net Interest Inc. | 1454.62 | 1281.02 | 14 | 3897.32 | 3739.60 | 4 | 5244.53 | 4821.49 | 9 |
| Other inc. | 69.82 | 47.92 | 46 | 145.22 | 84.01 | 73 | 150.58 | 64.41 | 134 |
| Total inc. | 1524.44 | 1328.94 | 15 | 4042.54 | 3823.61 | 6 | 5395.11 | 4885.90 | 10 |
| Op. Exp. | 193.82 | 165.72 | 17 | 729.26 | 449.44 | 62 | 679.49 | 616.11 | 10 |
| OP | 1330.62 | 1163.22 | 14 | 3313.28 | 3374.17 | -2 | 4715.62 | 4269.79 | 10 |
| Woff/Prov. of B/D | 355.56 | 180.95 | 96 | 1811.31 | 340.42 | 432 | 1317.61 | 952.73 | 38 |
| Dep. | 13.21 | 12.63 | 5 | 38.23 | 37.18 | 3 | 49.44 | 48.07 | 3 |
| PBT | 961.85 | 969.64 | -1 | 1463.74 | 2996.57 | -51 | 3348.57 | 3268.99 | 2 |
| Total Tax | 194.52 | 242.60 | -20 | 295.10 | 661.15 | -55 | 614.23 | 867.15 | -29 |
| PAT | 767.33 | 727.04 | 6 | 1168.64 | 2335.42 | -50 | 2734.34 | 2401.84 | 14 |
| EPS*(Rs) | # | # | # | # | 49.7 | 43.6 | |||
| * On current equity of Rs 110.08 crore. Face Value: Rs 2 | |||||||||
| # EPS is not annualised due to seasonality of business | |||||||||
| Figures in Rs crore, | |||||||||
| Source: Capitaline Corporate Database |
Powered by Capital Market – Live News
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
Download The App Now
Follow us on
2025, IIFL Capital Services Ltd. All Rights Reserved
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.
