LIC Housing Finance Q2 Results: Co reports four-fold jump in net profit to Rs 1188 crore
Its gross non-performing assets ratio declined to 4.33% at the end of September from 4.91% a year back. Net NPA ratio was at 2.59% against 2.83%. Provision coverage ratio fell to 41.22% from 43.65%.
By Atmadip Ray, ET Bureau |
Agencies
LIC Housing Finance reported a nearly four-fold jump in net profit at Rs 1188 crore for the September quarter against Rs 305 crore backed by an improvement in asset quality.
Total income for the mortgage lender rose 33% at Rs 6759 crore as compared with Rs 5092 crore.
Its gross non-performing assets ratio declined to 4.33% at the end of September from 4.91% a year back. Net NPA ratio was at 2.59% against 2.83%. Provision coverage ratio fell to 41.22% from 43.65%.
The company announced its quarterly numbers after market hours. Shares fall 0.25% to 457.75 on BSE.
LIC Housing Finance board has on Wednesday approved an upfront commitment of Rs 150 crore to the corpus fund LICHFL Real Estate Debt Opportunities Fund -1 of LICHFL Asset Management Company, it announced in a regulatory filing to stock exchanges.
Total income for the mortgage lender rose 33% at Rs 6759 crore as compared with Rs 5092 crore.
Its gross non-performing assets ratio declined to 4.33% at the end of September from 4.91% a year back. Net NPA ratio was at 2.59% against 2.83%. Provision coverage ratio fell to 41.22% from 43.65%.
The company announced its quarterly numbers after market hours. Shares fall 0.25% to 457.75 on BSE.
LIC Housing Finance board has on Wednesday approved an upfront commitment of Rs 150 crore to the corpus fund LICHFL Real Estate Debt Opportunities Fund -1 of LICHFL Asset Management Company, it announced in a regulatory filing to stock exchanges.
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