Weak Q3 for LIC Housing Finance, net profit down 1.35% Y-o-Y

Photo: LIC Housing twitter handle
Life Insurance Corporation Housing Finance Ltd (LIC HF) posted a 1.35 per cent decline in their net profit to Rs 4.91 billion for the quarter-ended December 2017, as compared to the same month a year prior. On a quarter to quarter basis, however net profit has risen by 0.39 per cent from 34.89 billion in the quarter ending September 2017. 

Total Revenues increased to Rs 37.675 billion at the end of Q3 FY2018, a six per cent increase year-on-year, from Rs 35.487 billion in Q2 FY2017.  

The company’s finance costs have increased by eight percent from Rs 25.9 billion in Q3 FY2017 to 28.1 billion at the end of Q3 FY2018. Whereas total expenses including finance costs, employee benefit expenses, and provisions/ write offs, rose by eight per cent year-on-year, from Rs 278.3 billion in Q3 FY2017 to Rs 301.9 billion in Q3 FY2018.

Earnings per Share (L&TFH) have not improved over the last few quarters, declining from Rs 9.89 (Q3 FY2017) and 9.69 (Q2 GFY2018) to 9.73 (Q3 FY2018).  

LIC HF closed at Rs 557.25 on the BSE,, 2.19 per cent lower than its previous close on the exchange

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