LIC Housing Finance: Net Profit up by 25 % to Rs. 316.16 crores..!

LIC Housing Finance Ltd (LIC HFL) announced its audited results for the year ended March 2013, following its approval by the Board of Directors in a meeting held in Mumbai on April 26, 2013.

Q 4 Net Interest Income up by 24 %

FY 2013 Individual Loan Disbursements up by 22 %

FY 2013 Individual Loan portfolio grows 25 % to 75147 crores

FY 2013 net profit up 12 % to Rs 1023.21 crores

Board proposes 190 % dividend

Performance Highlights – Q4 FY 2013     (Figures in Rs. crores)         

	Quarter  Ended  March 2013	Quarter  Ended  March 2012	Increase
Individual Loan Sanctions	7,842	5,638	39 %
Individual Loan Disbursements	7,536	6,345	19 %
Revenue from operations	2,028	1,628	25 %
Total Income	2,075	1,689	23 %
Net Interest Income	461	371	24 %
Profit before tax	416.32	348.80	19 %
Net Profit after Tax	316.16	253.60	25 %

           

                                                                                                   

During the Q4 FY13 in the individual loan category, the company sanctioned and disbursed loans totaling Rs 7842 cr, & Rs 7536 cr, registering a growth of 39% & 19% respectively over the fourth quarter of the previous year. The total loan sanctions & disbursements were Rs. 8.070 cr & Rs 7,725 cr.

The Company's total income for the fourth quarter ended March 2013 was Rs. 2075 crores as against Rs.1,689 crores during the same period last year, a growth of 23%. Revenue from operations grew  25 % from Rs. 1,628 crores to Rs. 2,028 Crores.

Net profit for the Q4 was Rs. 316.16 crores as compared to Rs.253.60 crores in the corresponding period last year, thus showing a growth of 25,%. Net Interest Margins for the Q4 FY13 stood at 2.45% as against 2.09 % for Q3 FY13.

Performance Highlights –FY 2013                                                     

                                                                                                               (Figures in Rs. crores)         

Details	Year ended March 2013	Year ended March 2012	Increase
Individual Loan Sanctions	24,843	20,752	20%
Individual Loan Disbursements	23,230	19,118	22%
Revenue from operations	7,459	5,982	25%
Total Income	7,659	6,215	23%
Net Interest Income	1,534	1,392	10%
Profit before tax	1,373.57	1,230.91	12%
Net Profit after Tax	1,023.21	914.20	12%
Dividend	190 %	180 %
Gross NPA%	0.61 %	0.42 %
Net NPA%	0.36 %	0.14 %
Outstanding Mortgage Portfolio	77,812	63,080	23 %
EPS (Rs 2 paid-up)	20.28	19.20

      1 crore =10 million

During the year ended March 2013, the company sanctioned and disbursed loans totaling Rs. 26,477 crores & Rs. 24,358 cr, registering a growth of 20 % & 22 % respectively over the previous year.

Out of the total, Individual loan sanctions & disbursements were Rs. 24.843 cr & Rs. 23,230 cr, registering growth of 20 %  & 22%.

For the year ended March 2013, the company's total income was Rs.7,659 crores as against Rs. 6,215 crores during the same period last year, a growth of 23 %. Revenue from operations grew 25 % from Rs. 5982 crores to Rs.7459 Crores.

Net profit during this period was Rs.1,023.21 crores as compared to Rs.914.20 crores in the corresponding period last year, a growth of 12 %.

 

V.K. Sharma, MD and CEO, LIC HFL.

The outstanding mortgage portfolio as on March 31, 2013 was Rs. 77,812 crores as against Rs. 63,080 crores on March 31, 2012, thus registering a growth of 23%.

The Gross NPAs of the company stood 0.61 % on March 31, 2013 as against 0.42 % as on March 31, 2012. Net NPAs were Rs 0.36 % as against 0.14 % for the corresponding dates.

The net interest margins for the whole year stood at 2.18 % as against 2.44 % for the previous year.

The Board of Directors have recommended dividend of 190 %.

About LIC Housing Finance Ltd

LIC Housing Finance Ltd is one of the largest housing finance companies in India having one of the widest networks of offices across the country and representative offices at Dubai & Kuwait. In addition, the Company also distributes its products through branches of its subsidiary LICHFL Financial Services Ltd. LIC Housing Finance Ltd was promoted by Life Insurance Corporation in 1989 and a public issue was made in 1994.  It launched its maiden GDR offering in 2004. The company enjoys the highest rating from CRISIL & CARE indicating highest safety with regard to the ability to service interest and repay principal.

For further information please visit the website www.lichousing.com or contact:

Mr.V. K Sharma                                                                    Annapoorni,

Managing Director & CEO                                                 Adfactors PR,

LIC Housing Finance Ltd                                                   Tel: 044 28297497 -

Tel: 022 - 2217 8602

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