Mortgage lender LIC Housing Finance (LICHFL) today reported an 18 per cent growth in net profit at Rs 529.19 crore in the quarter ended March 31, helped by the higher loan growth.
The company's profit after tax was Rs 448.02 crore in the same quarter last year.
"The growth in profit was due to higher loan growth. We disbursed Rs 15,192 crore in the fourth quarter as compared to Rs 13,216 crore in the same quarter last year," LICHFL Managing Director and CEO Vinay Sah said.
Individual loan disbursements stood at Rs 13,960 crore, a growth of 11 per cent over the same quarter of the previous year. Developer loan disbursements were Rs 1,232 crore as against Rs 640 crore in the year ago quarter.
For the full year, the company's net profit grew by 16 per cent to Rs 1,931.05 crore from Rs 1,660.78 crore in the fiscal ended March 31, 2016.
Net interest income was Rs 1,040 crore, registering a growth of 27 per cent over the same period last year.
Net interest margins for the reporting quarter stood at 2.97 per cent as against 2.71 per cent in the same period last year.
Gross NPA was at 0.43 per cent as against 0.45 per cent, while net NPA stood at 0.14 per cent as against 0.22 per cent.
Gross NPA in the individual loan segment stood at 0.20 per cent as against 0.20 per cent last year same period.
The company's stock closed 2.33 per cent up at Rs 673.10 on the BSE, whose benchmark index Sensex gained nearly 1 per cent to settle at 29,943.24.
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