Age ncies
Mumbai: The Board of Directors of LIC Housing Finance Ltd. (BSE:500253; NSE: LICHSGFIN) announced its unaudited results for the
second quarter ended on September 30, 2022, following its approval by the board of directors in a meeting held in Mumbai on November,
01st, 2022.
The results are as per the Indian Accounting Standards i.e., IndAS notifications issued by the Ministry of Corporate Affairs and National
Housing Bank in April 2018. Performance highlights for the quarter ended September 30, 2022
Total disbursements were at Rs. 16786 crs in Q2 FY2023, as against Rs.16110 crs for the corresponding period in Q2 FY2022, a
growth of 4 %.
Out of this, disbursements in the Individual Home Loan segment were at Rs.14300 crs against Rs 14330 crs in Q2 FY2022. Project
loans were at Rs. 407 crs compared with Rs 353 crs for the same quarter in previous year, a growth of 15%.
The company's total income for Q2FY2023 quarter was Rs. 5092 crs as compared to Rs 4715 crs during the same period in the
previous quarter. The company's total revenue from operations grew to Rs. 5086 crs as against Rs. 4708 crs in Q2 FY2022, a growth of 8
%.
Net interest income (NII) stood at Rs. 1163 crs, as against Rs 1173 crs for the same period in the previous year. Net interest margin
(NIM) for the quarter stood at 1.80 % as against 2.0 % for Q2 FY 2022.
Profit before tax for the quarter was Rs. 378.85 crs as against Rs 308.95 crs in Q2 FY2022, a growth of 23%. Net profit after tax stood at
Rs. 304.97 crs as compared with Rs 247.86 crs during the same period in the previous year, a growth of 23%.
The total loan portfolio stood at Rs. 262336 crs as against Rs 237660 crs on September 30, 2021, a growth of 10%. Out of which
individual home loans grew at 15% from Rs 188348 crs to Rs. 216771 crs as on September 30, 2022.
Under IndAS 16, asset classification and provisioning changes for future credit loss are reported on an Expected Credit Loss (ECL)
basis. As per the same methodology, the provisions for ECL stood at Rs. 6522 crs with a coverage of 44% on Stage 3 as on September
30, 2022 as against Rs 5355 crs as on September 30, 2021.
The Stage 3 exposure on default as on September 30, 2022 stood at 4.90 % as against 5.14% as on September 30, 2021 and 4.96%
as on June 30, 2022.
During the six months ended September 30, 2022, the total disbursements for the company stood at Rs 31988 crs against Rs 24762
crs for the same period of the previous year showcasing a growth of 29 %. Out of this, Individual home loan segment registered a
disbursement of Rs. 27433 crs, as against Rs 21980 crs for H1 ended September 30, 2021 up by 25 %; whereas project loans were Rs
716 crs as against Rs 590 crs for H1 ended September 30, 2021, up by 21%.
The company's total income was Rs. 10383 crs as against Rs 9574 crs during the same period previous year, up by 8%. Revenue from
operations were Rs 10371 crs as against Rs 9565 crs in the same period last year, up by 8%.
Net interest income (NII) for six months was Rs. 2773 crs as against Rs 2455 crs during the same period previous year, up by 13%.
Net profit before tax (PBT) for HI FY2023 was Rs. 1519.21 crs as against Rs 501.88 crs during the same period previous year, up by 203
%.
