Q1FY21 results: LIC Housing Finance net profit rises by 35.3 per cent YoY to Rs 824.08 crore
LIC Housing Finance Ltd. announced its Q1FY21 results on Aug 24, 2020.
Consolidated profit stood at Rs 824.08 crore for Q1FY21. It grew by 35.3 per cent as compared to Rs 609.1 crore that it had reported in Q1FY20.
Net interest income (NII) stood at Rs 1224.46 crore as against Rs 1183.99 crore it reported in Q1FY20. A growth of 3.4 per cent YoY.
Total income grew by 3.5 per cent YoY to Rs 4986.01 crore in Q1FY21. It had reported total income of Rs 4816.52 crore in Q1FY20.
Operating profit for Q1FY21 stood at Rs 1021.77 crore. A growth of 21 per cent YoY as against Rs 844.59 crore in Q1FY20.
The rise in profit is mainly attributed to provisioning which was lower in Q1FY21 as compared to the Q1FY20. The provisioning in the Q1FY21 stood Rs 56 crore compared to around Rs 253 crore in Q1FY20.
The stage 3 exposure at default as on June 30, 2020 stood at 2.83 percent as against 1.98 percent as on June 30, 2019.
On Monday, share price of company closed at Rs 276.7 up by 0.02 per cent on BSE.
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Particulars
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Q1FY21
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Q1FY20
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Change
|
|
Net Profit
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824.08
|
609.13
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35.3%
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|
Net interest income
|
1,224.46
|
1,183.99
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3.4%
|
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Operating profit
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1,021.77
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844.59
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21.0%
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