LIC Hsg Finance's Q2 net up 23% to Rs 305 cr on dip in provisions

Net interest income and margin both decline; disbursements up 4% to Rs 16,786 crore

LIC Housing Finance Ltd’s net profit rose by 23 per cent year on year (YoY) to Rs 304.97 crore in the second quarter ended September 2022, predominantly due to a decline in provisions. It had posted a net profit of Rs 247.86 crore in Q2FY22.

Net interest income (NII) declined by 0.8 per cent to Rs 1,163 crore in the reporting quarter from Rs 1,173 crore a year ago. Its net interest margin also moderated to 1.8 per cent in Q2Fy23 from 2.0 per cent a year ago.

The impairments for financial instruments declined sharply to Rs 373.8 crore from Rs 625.34