LIC HOUSING FINANCE LIMITED - RESULTS FOR - Q1 FY 2013-14-Q E JUNE 2013 - INCOME UP BY23%; NPT UP BY 36% YoY

LIC HOUSING FINANCE LIMITED

RESULTS FOR Q1 FY 2013-14

Q/E JUNE, 2013

LIC HOUSING FINANCE LIMITED has done well in the First Quarter ending June, 2013.

Total Income (net) for Q1 FY 13-14 stands at Rs.2148.87 Cr; up by 23.04% from Q1 FY 12-13(Rs.1746.46 Cr); and up by 4.58% from Q4 FY12-13 (Rs.2054.74 Cr). The same for FY 12-13 was Rs.7575.92 Cr. The improvement in operational income is impressive.

Profit before tax    for Q1 FY 13-14 stands at Rs.424.02 Cr; up by 39.33% from Q1 FY 12-13(Rs.304.32 Cr); and up by1.85% from Q4 FY12-13 (Rs.  41631.67 Cr). The same for FY 12-13 was Rs.     1373.57 Cr).

Net Profit       for Q1 FY 13-14 stands at Rs.310.51       Cr; up by 36.34% from Q1 FY 12-13(Rs.227.75 Cr); and down  by -1.79% from Q4 FY12-13 (Rs.   31615.7 Cr). The same for FY 12-13 was Rs.1023.21 Cr). The net Profit improvement of 36.34% YoY is  impressive.

EPS ON FV OF RS.2 for Q1 FY 13-14 stands at Rs.6.15; compared to Rs.4.51 in Q1 FY 12-13; and Rs.6.27 in Q1 FY 12-13; and Rs.20.28 in the whole of FY 12-13.

Annualised EPS stands at Rs.24.60; On the current Market price of Rs.181.05. 

Price Earning Ratio works out to 7.36.  On the Basis of its performance and improvement, there is good scope for Price appreciation.

Public shareholding in the company is 59.69%

Results Table

LIC HSG FINANCE	30-06-13	Dif% YoY	30-06-12	Dif% QoQ	31-03-13	31-03-13
Income from Operations
a. Revenue from operations	213025.8	24.01	171786	5.04	202812.7	745908.7
b. Other operating income	1860.91	-34.92	2859.43	-30.07	2661.08	11683.36
Total Income (net)	214886.8	23.04	174645.5	4.58	205473.8	757592
Expenses
a. Finance cost	167554	22.54	136737.4	6.9	156732.4	592459.6
b. Employee benefits	2630.72	36.86	1922.13	0.3	2622.97	9040.64
c. Depreciation	196.29	9.65	179.01	-0.14	196.57	753.38
d. Advertisement expenses	34.23	-19.44	42.49	-95.51	761.92	1396.73
e. Commission and brokerage	1833.45	-5.69	1944.1	-56.26	4191.67	11616.31
f.  Provisions / write off	1709.99	-60.74	4355.44	-590.19	-348.84	7887.22
g  Other expenses	1433.33	28.26	1117.56	-15.01	1686.48	5377.52
Total  Expenses	175392.1	19.89	146298.2	5.76	165843.2	628531.4
Profit from Operations	39494.7	39.32	28347.3	-0.34	39630.59	129060.6
Other income	2907.11	39.44	2084.83	45.28	2001.08	8296.27
Profit before tax	42401.81	39.33	30432.13	1.85	41631.67	137356.9
Tax expense	11351.11	48.24	7657.41	13.33	10015.97	35036.21
Net Profit	31050.7	36.34	22774.72	-1.79	31615.7	102320.7
Paid-up Equity (FV` 2/-)	10093.26	0	10093.26	0	10093.26	10093.26
Reserves as at 31st March	-		-		-	638029.4
EPS ON FV OF RS.2	6.15	36.36	4.51	-1.91	6.27	20.28

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LIC HOUSING FINANCE LTD - Q4 FY 2013 RESULTS - EXCELLENT - INDICATE GOOD FUTURE

LIC HOUSING FINANCE LTD

Q4 FY 2013 RESULTS REVIEW

The results of the 4^th Quarter of FY 2013 of LIC Housing Finance were quite good as can be seen from the Table Below :

Net Sales have grown 6.46% QoQ and 24.58% YoY.

Net Profit has grown to Rs.316.16 Cr in the 4^th Qtr from Rs.236.25 Cr in Q3 FY 13 , by 33.82%; and from Rs.253.61 Cr in Q4 FY 12 , by 24.66% YoY.

The quarterly EPS is Rs.6.27, which means, the annualized EPS is Rs.6.27 x 4 =  Rs.25.08.

The current Market Price is around Rs.225/-. This gives a PE Ratio of  8.97.

This gives good room for price appreciation in the medium to long term.

LICHG F	Mar '13	Dec '12	QoQ %	Mar '12	YoY % Grth
Net Sales	2,028.13	1,904.98	6.46	1,628.02	24.58
Other Operating Income	26.61	29.71	-10.43	34.3	-22.42
Total Income From Operations	2,054.74	1,934.69	6.21	1,662.31	23.61
EXPENDITURE			#DIV/0!
Employees Cost	26.23	21.87	19.94	20.87	25.68
Depreciation	1.97	1.93	2.07	1.97	0
Admin. And Selling Expenses	7.62	2.77	175.09	6.35	20
Provisions And Contingencies	-3.49	31.86	-110.95	-2.39	46.03
Other Expenses	58.78	40.71	44.39	56.19	4.61
P/L Before Other Inc. , Int., Excpt. Items & Tax	1,963.63	1,835.54	6.98	1,579.33	24.33
Other Income	20.01	20.28	-1.33	26.71	-25.08
P/L Before Int., Excpt. Items & Tax	1,983.64	1,855.82	6.89	1,606.04	23.51
Interest	1,567.32	1,535.32	2.08	1,257.25	24.66
P/L Before Tax	416.32	320.5	29.90	348.8	19.36
Tax	100.16	84.25	18.88	95.19	5.22
P/L After Tax	316.16	236.25	33.82	253.61	24.66
Net Profit	316.16	236.25	33.82	253.61	24.66
Equity Share Capital	100.93	100.93	0.00	100.93	0
Basic EPS	6.27	4.68	33.97	5.28	18.75
Public Share Holding
No Of Shares (Crores)	30.12	30.12	0.00	30.12	0
Share Holding (%)	59.69	59.69	0.00	59.69	0

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