LIC Housing Finance Q4FY22 PAT up 174% at Rs1,114 crore on sharply lower impairment of financial instruments

22 May 2022 , 07:10 PM

LIC Housing Finance Ltd reported 6.95% increase in revenues yoy for the Q4FY22 quarter on consolidated basis at Rs5,328 crore. On a sequential basis, revenues were up for the quarter by 5.21%.

Full year FY22 revenues were up 0.5% at Rs19,974 crore. For Q4FY22, there was a general pick up in housing finance volumes with most residential properties seeing huge destocking and purchase movement.

Net cash flows from operations for LIC Housing for FY22 were in the negative, but almost flat on a yoy basis compared to FY21.

The consolidated net profit for Q4FY22 was up 174.22% at Rs1,114 crore. The net profits was higher by 44.40% on a sequential basis.

The main reason for the sharp spike in profits was the sharp fall in the impairment charges in the quarter which fell from Rs977 crore in the Q4FY21 to Rs177 crore in Q4FY22.

The NIM spread also stayed favourable.  Net margins were 20.90% in Q4FY22 quarter compared to 8.15% in Q4FY21. NPM was higher compared to 15.23% in Q3FY22. The board has recommended dividend of Rs8.50 per share.

Financial highlights for Mar-22 compared yoy and sequentially

	LIC Housing Finance
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 5,327.87	₹ 4,981.84	6.95%	₹ 5,064.27	5.21%
Net Profit (Rs cr)	₹ 1,113.68	₹ 406.12	174.22%	₹ 771.24	44.40%
Diluted EPS (Rs)	₹ 21.01	₹ 8.05		₹ 14.73
Net Margins	20.90%	8.15%		15.23%