LIC Housing Finance net down 23% to Rs 236 crore

Net interest margin was at 2.09% down one basis point sequentially

LIC Housing Finance Limited (LICHFL), housing finance subsidiary of LIC of India reported net profit of Rs 236 crore down 23% for the December quarter.

Total income for the quarter rose 23% to Rs 1955 while net interest income rose 13% to Rs 370 crore.

Net interest margin (NIM) was at 2.09% down one basis point sequentially.

Total loan disbursals increased 27% to Rs 6005 crore for the quarter while total outstanding loan portfolio grew 24% y-o-y to Rs 72,704 crore.

Gross NPA at the December end was 0.74% while net NPAs stood at 0.45%, company said in a statement.