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Business EconomyPosted at: May 18 2022 7:44PM


LIC HFL reports almost 3-fold jump in Q4 PAT

Mumbai, May 18 (UNI) LIC Housing Finance Ltd on Wednesday reported 180 per cent increase in its Profit After Tax (PAT) for the quarter ended March 31 at Rs 1118.64 crore.

The company had reported Net Profit After Tax at Rs 398.92 crore during the same period in the previous year, a statement here said.

It's revenue from operations grew to Rs 5300 crore as against Rs 4,968 crore in Q4 FY2021, a growth of 7%.

Net Interest Income (NII) rose by 9% to Rs 1637 crore, as against Rs 1505 crore for the same period the previous year.

Net Interest Margin for the quarter stood at 2.65% as against 2.66 % for Q4 FY 2021.

The company’s revenue from operations stood at Rs 19919 crore as against Rs 19847 crore for the year ended March 31, 2021.

Net Interest Income (NII) for 12 months was up by 6% to Rs. 5535 crore from Rs 5245 crore during the previous year.

Net Profit After Tax for the year ended March 31, 2022, was Rs 2287.28 crore as against Rs 2734.34 crore during the same period in the previous year.

The Board has proposed a dividend of 425 %.

Speaking on the performance, Y Viswanatha Gowd, Managing Director and Chief Executive Officer of LIC Housing Finance Limited said, “Our performance during the last quarter has shown a marked improvement on all fronts due to easing of pandemic situation in India and fueled by some good business initiatives from our company. Overall FY 2022 was a volatile year during which we managed to neutralize the effects of pandemic and recover. With this, we have entered FY 2023 on a very positive note. We expect stable growth over the next year, despite the recent monetary tightening and interest rate hikes announced by regulators globally.”
UNI AKM SHK1944
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