Thursday, February 14, 2013
LIC HOUSING FINANCE LTD - RESULTS - FOR Q3 FY 2012-13 - QE DEC 2012 - TOTAL INCOME UP 23%; NET PROFIT DOWN 23% - FUTURE PROMISING
LIC Housing Finance Ltd
RESULTS FOR Q3 FY 2012-13
Q3 net profit Rs 236.25 Cr
Q3 Loan Disbursements up by 27%
Outstanding Loan Portfolio up by 24%
Q3 Revenue from operations rises 24%
LIC Housing Finance (LIC HFL) has announced its unaudited results for the third quarter ended December 31, 2012. The Board meeting was held in Mumbai on February 14, 2013.
Performance Highlights – Q3 FY2013
(Figures in Rs. crore)
Q 3 FY 13 Q 3 FY 12 Variation
Individual Loan Disbursals :: 5508 :: 4568 :: 21%
Total Loan Disbursals :: 6005 :: 4729 :: 27%
Revenue from operations :: 1905 :: 1539 :: 24%
Total Income :: 1955 :: 1593 :: 23%
Net Interest Income :: 370 :: 326 :: 13%
Profit after Tax :: 236.25 :: 305.69 :: (23%)
Outstanding Loan Portfolio :: 72704 :: 58707 :: 24%
During third quarter ended December 31, 2012, the company disbursed loans worth Rs 6005 crores, registering a growth of 27% when compared to its performance during third quarter of the previous year. Out of the above, Individual loan disbursals grew 21% to Rs. 5508 crore.
The total income for the quarter was Rs 1955 crore as against Rs 1593 crore for the corresponding period of the previous year, recording a growth of 23%. Revenue from operations was Rs 1905 crore against Rs. 1539 crore for the corresponding period of the previous year, a growth of 24%.
Net Interest Income for the quarter was Rs 370 crore as against Rs 326 crore for the corresponding quarter of the previous year, a growth of 13%.
The Net profit for Q3 was Rs 236.25 crores when compared to Rs 305.69 crores in the corresponding period of the previous year.
Net interest margin of the Company for Q3 ended December 31, 2012 stood at 2.09% as against 2.10% for the Q2 ended September 30, 2012.
Performance Highlights – 9 months FY2013
(Figures in Rs. crore)
9 M FY 13 ::: 9M FY 12 :: Variation
Individual Loan Disbursals :: 15694 :: 12772 :: 23%
Total Loan Disbursals :: 16634 :: 13415 :: 24%
Revenue from operations :: 5431 :: 4355 :: 25%
Total Income :: 5584 :: 4526 :: 23%
Net Interest Income :: 1074 :: 1021 :: 5%
Profit after Tax :: 707.05 :: 660.59 :: 7%
For the nine months ended December 31, 2012, LIC HFL disbursed loans worth Rs 16634 crore; registering a growth of 24%. Out of the total, Individual loan disbursals were Rs. 15694 crore, a growth of 23%.
The total income for the nine months ended December 31, 2012 was Rs 5584 crore as against Rs 4526 crore for the corresponding period of the previous year, recording a growth of 23%. Revenue from operations was Rs 5431 crore against Rs. 4355 crore for the corresponding period of the previous year, a growth of 25%.
The Net profit for the nine months ended December 31, 2012 was Rs 707.05 crore when compared to Rs 660.59 crore in the corresponding period of the previous year, registering a growth of 7%.
The outstanding loan portfolio of LIC HFL as on December 31, 2012 was Rs 72704 crore as against Rs 58707 crore as on December 31, 2011; registering a growth of 24%.
The Gross NPA for the total portfolio stood at 0.74% as on December 31, 2012 and Net NPA was 0.45%.
LIC Housing Finance, Director & Chief Executive, Mr. V. K. Sharma, said “We have witnessed a healthy growth rate this quarter. It is very satisfying to mention that our recently launched home loan product for women ‘Bhagya Lakshmi’ has received an unprecedented response with over 3800 loan applications aggregating to nearly Rs 1000 cr with in a period of 3 weeks of the launch.”
Recent business developments:
• LIC Housing Finance launched a new home loan product “Bhagyalakshmi” for women home seekers. Aimed at catering to the needs of a growing number of women home seekers, this product is available to women applicants who are the sole owner of the property or the first owner in a jointly owned property.
About LIC Housing Finance Ltd
LIC Housing Finance Ltd is one of the largest housing finance companies in India having one of the widest networks of offices across the country and representative offices at Dubai & Kuwait. In addition, the Company also distributes its products through branches of its subsidiary LICHFL Financial Services Ltd. LIC Housing Finance Ltd was promoted by Life Insurance Corporation in 1989 and a public issue was made in 1994. It launched its maiden GDR offering in 2004. The company enjoys the highest rating from CRISIL & CARE indicating highest safety with regard to the ability to service interest and repay principal.
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