OREANDA-NEWS. The Board of Directors of LIC Housing Finance announced its un-audited results for the third quarter ended on December 31, 2013 following its approval by the Board of Directors in a meeting held in Mumbai on January 16, 2014.

For the quarter ended December 31, 2013, the company recorded a total income of Rs.2376 crore as against Rs.1955 crore during the same period last year, a growth of 22%. Income from operations was Rs. 2343 crore as against Rs.1935 crore, a growth of 21%.

Net profit for Q3 was Rs.326.59 crore as compared to Rs.236.25 crore in the corresponding period last year, a growth of 38%.

During the Q3, the Company sanctioned Rs 6415 cr in the individual loan segment, a growth of 10% over the corresponding period in the previous year. Loan disbursements in the quarter were Rs 5832 cr as against Rs 5508 cr in the corresponding period in the previous year.

In the developer loan segment, the Company sanctioned and disbursed Rs 343 cr & Rs 297 cr respectively during the quarter.

The Net Interest Income for the quarter was Rs. 458 crore as against Rs.370 crore for the same period last year, a growth of 24%. Net Interest Margins stood at 2.16% as on December 31, 2013 as against 2.09% for the quarter ended December 31, 2012.

The Outstanding Mortgage Portfolio as on December 31, 2013 was Rs.86422 crore as against Rs.72704 crore on December 31, 2012, thus registering a growth of 19%. The Individual loan portfolio stood at Rs 83839 crore as against Rs 69885 crore, a growth of 20%. The Developer loan portfolio stood at Rs.2582 crore as on December 31, 2013 as against Rs.2819crore as on December 31, 2012.

Gross NPAs in individual segment was Rs 335 crore or 0.40% as on December 31, 2013 as against Rs 362 crore or 0.52% as on December 31, 2012. Total Gross NPAs for the company including NPAs on Developer loans was Rs 704 crore or 0.81% as on December 31, 2013 as against Rs 538 crore or 0.74 % as on December 31, 2012.

Net NPAs stood at 0.51% as on December 31, 2013 as against 0.45% as on December 31, 2012.

Total provision including general provision on standard loans is Rs.727 crore as on December 31, 2013 against Gross NPAs of Rs 704 crore on the same date.

For the nine months ended December 31, 2013, the company recorded a total income of Rs.6857 crore as against Rs.5584 crore during the same period last year, a growth of 23%. Income from operations was Rs. 6738crore as against Rs.5521 crore, a growth of 22%.

Net profit for the nine months ended December 31, 2013 was Rs.947.16 crore as compared to Rs.707.06 crore in the corresponding period last year a growth of 34%.

In the Individual loan segment, the company sanctioned & disbursed Rs.17599 crore & Rs 16582 cr for the nine months ended December 31, 2013.Sanctions & Disbursements in the developer loan segment were Rs 787crore & Rs.620crore for the same period.

The Net Interest Income for the nine months ended December 31, 2013 was Rs. 1366 crore as against Rs.1074 crore for the same period last year, a growth of 27%. Net Interest Margin for the nine months ended December 31, 2013 stood at 2.22% as against 2.11% for the corresponding period ended December 31, 2012

“During the quarter under review, we have recorded good performance in all the areas of operations. We are confident of maintaining the same trend for the fourth quarter of the current fiscal” said Ms. Sunita Sharma, Managing Director & CEO, LIC Housing Finance Ltd.