Mortgage lender LIC Housing Finance (LICHFL) on Thursday reported a 6 per cent enhance in revenue after tax at Rs 767.33 crore for the quarter ended December 2021, aided by greater collections and drop in provisions.
It had reported a revenue after tax of Rs 727.04 crore in the identical interval of the earlier fiscal.
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“The earnings ranges had been kind of maintained. Our collections had been good throughout the three months of the quarter. Restoration additionally picked up throughout all of the areas.
“Even the provisions had been much less within the quarter due to the provisions we had made earlier,” the corporate’s Managing Director and CEO Y Viswanatha Gowd stated.
The lender reported higher progress within the quarter as a consequence of greater disbursements throughout the festive season.
Gowd additionally stated with easing of the pandemic, progress and asset high quality metrics are anticipated to enhance.
Provisions throughout the quarter stood at Rs 355 crore as in opposition to Rs 665 crore made within the second quarter of this fiscal.
Web curiosity earnings (NII) grew 14 per cent to Rs 1,455 crore, as in opposition to Rs 1,281 crore for a similar interval within the earlier yr.
Web curiosity margin (NIM) improved to 2.42 per cent as in opposition to 2.36 per cent. Gowd expects This fall NIM to be at round 2.50 per cent.
The stage 3 publicity at default stood at 5.04 per cent, as in opposition to 2.68 per cent as on December 31, 2020.
The person mortgage portfolio was Rs 2,29,321 crore, in comparison with Rs 2,04,444 crore earlier, a progress of 12 per cent.
Challenge mortgage portfolio stood at Rs 14,091 crore as in opposition to Rs 15,753 crore as on December 31, 2020.
Complete excellent portfolio grew at 11 per cent to Rs 2,43,412 crore from Rs 2,20,197 crore.