BackLIC Housing Finance Q4 Results: Net profit up 5% to ₹1,180 crore, dividend declared
The company's net interest-income (NII) came in at ₹1,990.3 crore, reporting a growth of 22.1 per cent, compared to ₹1,630 crore in the year-ago period.
PremiumLIC Housing Finance announced its Q4FY23 results on May 16, reporting a net profit of ₹1,180.3 crore, registering a growth of 5.5 per cent, compared to ₹1,118.6 crore in the corresponding period last year.
The NBFC's net interest-income (NII) - the difference between the interest income it earned from lending activities and the interest paid to depositors, came in at ₹1,990.3 crore for the January-March quarter, reporting a growth of 22.1 per cent, compared to ₹1,630 crore in the year-ago period.
Also Read: LIC raises stake in 4 Adani Group companies in Q4 post Hindenburg saga
The company's board has recommended a dividend of ₹8.50 per equity share of ₹2 each (425 per cent) for the financial year 2022-23. The dividend on equity shares will be paid on or after the date of the company's annual general meeting (AGM).
The leading mortgage lender's revenue for the quarter ended March 2023 was ₹6,415.11 crore, compared to ₹5,299.66 crore in the same quarter last year, posting a growth of 21.04 per cent year-on-year.
As of March 31, 2023, the company's net worth stood at ₹24,674.98 crore, debt-equity ratio was 10.08, total debts to total assets was 0.90 per cent, and operating margin was 15.70 per cent,
The net profit margin was 12.75 per cent, gross non-performing assets (NPAs) was 4.41 per cent while net NPAs stood at 2.50 per cent, according to a regulatory filing by the company to the stock exchanges.
The total income for the January-March period stood at ₹6,415.17 crore, compared to ₹5,308.9 crore in the corresponding quarter last year, reporting a rise of 20.83 per cent year-on-year.
On May 16, shares of LIC Housing Finance settled 3.47 per cent lower at ₹395.10 apiece on the BSE.
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