LIC Housing Finance Q4 Results,Net profit falls over 7% YoY to Rs 1,091 crore

by Psu Connect
Date: 16-05-24

The company's board recommended a 450% dividend for FY24 and shareholders would get Rs 9 per equity share of Rs 2 each, subject to their approval.

LIC Housing Finance Q4 Results,Net profit falls over 7% YoY to Rs 1,091 crore

LIC Housing Finance has announced its quarterly results of the March-end year reporting a 7.5% year-on-year fall in net profit at Rs 1,091 crore for the fourth quarter, against Rs 1,180 crore in the year-ago period.

The gross profit for the quarter stood a slight higher at Rs 1,476 crore, against Rs 1,445 crore.

The net profit for the previous year period was Rs 1,180 crore. The company's board recommended a 450% dividend for FY24. The shareholders would get Rs 9 per equity share of Rs 2 each, subject to their approval.

Net interest income rose 12 % at Rs 2238 crore, as against Rs 1990.30 crore for the same period the previous year. Net interest margin (NIM) for the quarter stood at 3.15 % as against 2.93% in the year-ago period.

The lender's total income was 8% higher at Rs 6,937 crore against Rs 6,415 crore while total expenses rose about 10% at Rs 5,461 crore against Rs 4,970 crore.

The loan disbursements of the company during the quarter were at Rs 18232 crore, up 14% year-on-year.