LIC Housing Finance Q2 internet up 12% at Rs 573 crore

LIC Housing Finance Q2 net up 12% at Rs 573 crore

Housing finance arm of India’s greatest insurer LIC HFL Monday reported an build up of 12 in line with cent in its internet benefit at Rs 573.16 crore for 2d quarter ended September 2018.

The corporate had registered a internet benefit of Rs 513.88 crore in its internet benefit within the corresponding July-September duration of 2017-18.

Overall source of revenue of the corporate rose to Rs 4,202.60 crore all through the quarter underneath assessment, up from Rs 3,759.24 crore in similar duration of the previous fiscal, LIC Housing Finance (LIC HFL) mentioned in a regulatory submitting.

The corporate mentioned it paid the proposed dividend of Rs 6.80 in line with proportion after shareholders licensed in annual normal assembly held in August.

LIC HFL is basically engaged within the trade to offer loans for acquire or building of residential properties.

As in line with Nationwide Housing Financial institution (NHB) norms, gross non-performing property (NPAs) for the corporate stood at 1.20 in line with cent as on September 30, 2018. Gross NPAs in person phase was once 0.81 in line with cent, it mentioned in a unencumber.

Talking at the efficiency, Vinay Sah, MD and CEO, LIC Housing Finance mentioned, “In the second one quarter of the monetary 12 months, we’ve got noticed sturdy disbursal enlargement and be expecting the rage to proceed in long term quarters.”

“The corporate recorded a powerful enlargement within the inexpensive phase each in price and quantity phrases and is poised to proceed its enlargement trajectory. The corporate continues to revel in at ease liquidity place,” he added.

Inventory of the corporate closed 2.91 in line with cent upper at Rs 417.10 on BSE.

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