LIC Housing Finance targets upgrade after stable performance in Q3

The credit cost was stable sequentially at 0.6 per cent while write-offs moderated to Rs 57.7 crore

LIC Housing Finance (LICHF) reported a quarterly profit of Rs 1,160 crore for the December quarter of 2023-24.

The earnings reported were up 142 per cent year-on-year (Y-o-Y), down 2 per cent quarter-on-quarter (Q-o-Q), driving return on assets (ROA) and return on equity (ROE) to 1.6 per cent and 15.7 per cent, respectively.

Disbursements picked up with 8 per cent Q-o-Q growth, though assets under management (AUM) growth remained subdued at 5 per cent Y-o-Y and 1 per cent Q-o-Q.

Barring the low AUM growth, other numbers were satisfactory and better than consensus.

The net interest margin (NIM) was stable