 "LIC Housing")
Shares of LIC Housing Finance dipped 7% to Rs 531 on the BSE in intra-day trade in otherwise strong market after the company reported disappointing April-June quarter (Q1FY19) results.
LIC Housing Finance reported 18% year on year (YoY) growth in net profit at Rs 4.79 billion in Q1FY19 on account of lower provisions under the IndAS framework. Net interest income grew 6.6% YoY at Rs 9.94 billion.
Despite having no major ALM mismatches, margins at 2.34% remained at multi-quarter lows. Gross non-performing assets (NPAs) ratio in individual segment has doubled from 0.72% to 1.21%.
“The housing finance
LIC Housing Finance reported 18% year on year (YoY) growth in net profit at Rs 4.79 billion in Q1FY19 on account of lower provisions under the IndAS framework. Net interest income grew 6.6% YoY at Rs 9.94 billion.
Despite having no major ALM mismatches, margins at 2.34% remained at multi-quarter lows. Gross non-performing assets (NPAs) ratio in individual segment has doubled from 0.72% to 1.21%.
“The housing finance
