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The Board of Directors of LIC Housing Finance Ltd announced its standalone audited results for the first quarter ended on June 30, 2024, following its approval by the Board of Directors in a meeting held in Mumbai on August, 02, 2024.
Total disbursements were at Rs. 12915 crs in Q1 FY2025, as against Rs 10856 crs for the corresponding period in FY 2024, up by 19%. Out of this, disbursements in the Individual Home Loan segment were at Rs. 10932 crs against Rs 9419 crs in Q1 FY2024, up by 16%, whereas Project loans were at Rs. 521 crs compared with Rs 251 crs in Q1 FY2024, up by 108%.
The company's revenue from operations grew to Rs. 6783.67 crs as against Rs. 6746.51 crs in Q1 FY2024.
Net Interest Income (NII) stood at Rs 1989.08 crs, as against Rs 2209.44 crs for the same period the previous year. Net Interest Margin (NIM) for the quarter stood at 2.76 % as against 3.21% for Q1 FY 2024 and 3.15% for Q4 FY 2024.
Profit Before Tax for the quarter was Rs. 1628.43 crs as against Rs 1648.99 crs in Q1 FY2024. As compared to Q4 FY24, there is an increase of 10%.
Net Profit After Tax stood at Rs. 1300.21 crs compared with Rs 1323.66 crs during the same period in the previous year, however sequentially it has increased by 19%.
The Individual Home Loan portfolio stood at Rs. 246275 Cr as on June 30, 2024, as against Rs. 231087 cr as on June 30, 2023, up by 7 %. The Project loan portfolio stood at Rs. 8099 crs as on June 30, 2024, as against Rs 11321 crs as on June 30, 2023. The total outstanding portfolio grew by 4 % to Rs. 288665 crs from Rs 276440 crs in the earlier year.
Under IndAS 16, asset classification and provisioning changes for future credit loss are reported on an Expected Credit Loss (ECL) basis.
As per the same methodology, the provisions for ECL stood at Rs. 5670.07 crs as on June 30, 2024, as against Rs 7590.68 crs as on June 30, 2023. The Stage 3 Exposure at Default as of June 30, 2024, stood at 3.30 % against 4.96 % as of June 30, 2023
