Mumbai, October 28 (IANS). The results for the second quarter of the financial year 2024-25 have been presented by LIC Housing Finance on Monday. The company’s profit rose 12 per cent year-on-year to Rs 1,329 crore in the July-September period from Rs 1,188 crore in the same period last financial year.
The company’s income has increased by 2.5 percent year-on-year to Rs 6,926 crore, as against Rs 6,758 crore in the same period of the last financial year.
The reason for the increase in the company’s income and profits is the increase in loan distribution in the home and project segments.
LIC Housing Finance has expressed hope that due to the festive season, there may be growth in the coming quarter. Along with this, the company will also benefit from the government’s focus on affordable housing and rural infrastructure.
The company’s outstanding loan portfolio has increased by 6 percent to Rs 2,94,588 crore. The personal home loan portfolio has also increased by 7 per cent to Rs 2,50,879 crore.
In the July-September quarter, the company has disbursed loans worth Rs 16,476 crore, up 12 percent on an annual basis. In the same period last year, this figure was Rs 14,665 crore.
The company’s interest income (NII) declined 6 percent year-on-year to Rs 1,974 crore in Q2FY25. It was Rs 2,107 crore in the same quarter of the last financial year. The company’s margin declined to 2.71 percent in the last quarter, which was 3.04 percent in the same quarter of the last financial year.
In the first half of FY25, the company has disbursed loans worth Rs 29,391 crore. In the first half of FY24, this figure stood at Rs 25,521 crore. There has been an increase of 15 percent on annual basis.
LIC Housing Finance shares closed 3.39 per cent higher at 618.45 per cent on Monday.
— IANS
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