LIC Housing Finance Q3 internet revenue drops 37% to Rs 480 crore, dwelling mortgage portfolio up by 13%

LIC Housing Finance Q3 outcomes: LIC Housing Finance Ltd (LICHFL) on Monday reported a 37 per cent fall in internet revenue at Rs 480.3 crore for the quarter that ended December 2022 because of greater bills.

The corporate’s Internet Curiosity Earnings (NII) was at Rs 1,606 crore within the December quarter as towards Rs 1,455 crore within the year-ago interval, reported the corporate in its inventory alternate submitting.

“Internet revenue after tax stood at Rs 480.30 crore in contrast with Rs 767.33 crore throughout the identical interval within the earlier 12 months,” LICHFL stated.

The corporate’s income from operations within the third quarter of 2022-23 stood at Rs 5,871 crore, witnessing a rise of 16 per cent in comparison with Rs 5,054 crore in the identical interval a 12 months in the past.

“After two years of pandemic-induced restrains, enthusiasm amongst dwelling patrons remained upbeat. Rising rates of interest and inflationary developments continued to place upward stress on dwelling costs in lots of areas. Asset high quality remained secure with an bettering pattern and margins expanded q-o-q,” Y Viswanatha Gowd, MD & CEO of LIC Housing Finance, stated.

The corporate’s whole disbursements for the quarter have been Rs 16,100 crore, which was beforehand Rs 17,770 crore for the corresponding interval in 2021-22.

Out of the whole quantity, disbursement within the particular person dwelling mortgage section stood at Rs 13,580 crore as towards Rs 15,341 crore within the comparable interval of the final fiscal. Mission loans have been at Rs 427 crore in contrast with Rs 293 crore for a similar quarter within the earlier 12 months.

LICHFL stated the person dwelling mortgage portfolio stood at Rs 2,23,064 crore within the newest December quarter as towards Rs 1,95,901 crore in the identical interval of the final fiscal.

The challenge mortgage portfolio stood at Rs 10,857 crore as towards Rs 14,091 crore as on December 31, 2021.

Additional, the housing finance firm stated its whole excellent portfolio grew 10 per cent to Rs 2,68,444 crore within the three months ended December 2022 from Rs 2,43,412 crore within the year-ago interval.

In the course of the 9 months that ended December 2022, whole disbursements stood at Rs 48,088 crore. It was up 13 per cent in comparison with Rs 42,532 crore in the identical interval a 12 months in the past.

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