LIC Housing Finance Ltd (LICHFL) reported a 6 per cent increase in standalone net profit in the third quarter at ₹767 crore against ₹727 crore in the corresponding year-ago quarter on the back of healthy growth in net interest income.   During the quarter, net interest income (difference between interest earned and interest expended) was up 14 per cent yoy to ₹1,455 crore ( ₹1,281 crore in the year-ago period).

Outstanding portfolio

  The housing finance company said expected credit loss (ECL) provisions for assets re-categorised as non-performing assets (NPAs) as per RBI notification dated November 12, 2021 is . ₹230.83 crore, which are in Stage 1 & Stage 2.   Total disbursements were at₹ 17,770 crore in the quarter against ₹16,857 crore in the year-ago period, up by 5 per cent.   Total outstanding portfolio grew by 11 per cent to ₹2,43,412 crore from ₹2,20,197 crore.   The Stage 3 (credit impaired) exposure at default as on December 31, 2021 stood at 5.04 per cent as against 2.68 per cent as on December 31, 2020 and 5.14 per cent as on September 30,2021.   ECL provisions stood at ₹ 5,715.76 crore as on December 31, 2021, against ₹2,948.05 crore as on December 31, 2020 and ₹5,354.90 crore as on September 30, 2021, per a company statement.   Net Interest Margin (NIM) for the quarter ended December 31, 2021 was 2.42 per cent (2.36 per cent).   Y Viswanatha Gowd, MD & CEO, LICHFL, said, “We have reported better growth in this quarter due to higher disbursements during the festive season.   “Our collection efficiencies continued to hold up and some signs of improvement are visible. With the easing of the pandemic, it is expected that growth and asset quality will continue to improve”  

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