LIC Housing Finance Q2 standalone net profit up 12%

Mumbai : LIC Housing Finance on Monday reported an increase of 12 per cent in its standalone net profit for the quarter ended September 30, 2018.

The company said, in a BSE filing that the net profit for the quarter under review increased to Rs 573.16 crore from Rs 513.88 crore during the same period previous year.

According to the company: "As per NHB (National Housing Bank) norms Gross NPAs (non-performing assets) for the company stood at 1.20 per cent as on September 30, 2018. Gross NPAs in individual segment was 0.81 per cent as on September 30, 2018. The Gross NPAs as on June 30, 2018 was 1.21 per cent and the corresponding figure for individual loans was 0.81 per cent."

Besides, the company's total income for the quarter increased by 12 per cent to Rs 4,202.60 crore from Rs 3,759.24 crore during the same period previous year.

"In the quarter ended September 30, 2018, total disbursements were Rs 14,272 crores as against Rs 10,975 crores for the corresponding period in the previous year registering a growth of 30 per cent," the company said in a statement.

"Out of that, disbursements in the retail loan segment were Rs 11,324 crore against Rs 10,367 crores, whereas total disbursements in project loans was Rs 2,948 crores as against Rs 608 crores for quarter ended September 30, 2017."