LIC Housing Finance net dips marginally in Q2
LIC Housing Finance reported a shade lower net profit at ₹489 crore in the second quarter against ₹495 crore in the yearago quarter in the backdrop of slight pressures surfacing on the asset quality front.
Net interest income nudged up 3 per cent year-on-year (y-oy) at ₹888 crore.
Due to pressure on the bad loans front, net interest margin in the reporting quarter was 30 basis points lower at 2.38 per cent against
2.68 per cent in the year-ago quarter.
During the quarter, the company’s loan disbursement was up 20 per cent at ₹10,975 crore. Within this, disbursements in the individual loan category recorded an 18 per cent y-o-y growth at ₹10,367 crore. Vinay Sah, MD and CEO of LIC Housing Finance, said: “We have witnessed steady loan growth during the quarter and will continue to see progress...Though there has been a temporary
Net interest margin in the reporting quarter was 30 basis points lower at 2.38 per cent