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Informist, Thursday, May 15, 2025

By Sachi Pandey

MUMBAI – LIC Housing Finance reported higher profit for the March quarter supported by better asset quality and a small uptick in total operating revenue. This marks the second straight quarter of profit growth driven by improved loan performance.

The net profit of the housing financier rose to INR 13.68 billion, up 25% year on year. The results were higher than the average forecast of INR 13.37 billion by 10 brokerages. On a sequential basis, profit fell 4%, in line with expectations, due to softer loan growth.

Asset quality of the company improved steadily with gross non-performing assets falling to 2.47% from 2.74% in the previous quarter and 3.31% a year earlier. Net NPAs eased to 1.22%, down from 1.46% quarter ago and 1.63% from last year. Provision coverage ratio of the housing financier stood at 51.25% for the reporting quarter.

Total revenue from operations stood at INR 72.83 billion, up 5% on year and 3% on quarter. Interest income made up nearly 98% of the total revenue from operations as it stood at INR 71.17 billion, up 3% on year and 2% on a sequential basis.

LIC Housing Finance saw a sharp rise in revenue from other operations, though the company did not clarify the source of this increase in its balance sheet. This 'other' segment rose to INR 1.39 billion, from INR 760 million in the previous quarter and INR 166 million a year earlier.

Total income of the housing financier was at INR 72.83 billion, compared with INR 70.57 billion in the December quarter and INR 69.37 billion in the same period last year. Total expenses remained largely steady at INR 55.14 billion, rising just 1% on year and 5% on quarter.

For the financial year ended March, net profit of the housing financier rose 14% on year to INR 54.29 billion. Revenue from operations stood at INR 280.50 billion, up from INR 272.28 billion in FY24. The company announced a final dividend of INR 10 per share.

The results were announced after market hours, however, the company had not released its investor presentation or press release at the time of reporting. Shares of LIC Housing Finance closed 1.4% higher Thursday at INR 624.95 on the National Stock Exchange. End

Edited by Akul Nishant Akhoury

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