New Delhi, Oct 28 (UNI) LIC Housing Finance Ltd (LICHFL) on Monday reported 11.85% year-on-year rise in standalone net profit to Rs 1,328.89 crore for July-September quarter (Q2) of the current financial year 2024-25.
The housing finance company had posted a profit of Rs 1,188.05 crore in the Q2 of the previous financial year 2023-24.
LICHFL’s revenue from operations during the September quarter of the current financial year stood at Rs 6,925.81 crore, up 2.56% year-on-year compared to Rs 6,752.83 crore in the corresponding period a year ago.
Commenting on financial performance, Tribhuwan Adhikari, LICHFL Managing Director & Chief Executive Officer said, “With stable interest rates, we expect steady growth in the next two quarters. As we enter the festive season, we are optimistic about our future growth during the next two quarters of this financial year.”
For the quarter ending September 30, 2024, the housing finance company’s net interest income declined 6% year-on-year to Rs 1,974 crore from Rs 2,107 crore in the corresponding period of the previous year.
Net interest margin (NIM) for the quarter stood at 2.71% as against 3.04% for Q2 FY 2024 and 2.76% for Q1 FY2025.
The company’s total disbursements stood at Rs 16,476 crore in Q2 FY2025, as against Rs 14,665 crore for the corresponding period in Q2FY2024, up by 12%.
