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LIC Housing Finance Share Price Update: LIC HFL Reports 12 Percent Rise At Rs 573.16 Crore For Q2

LIC Housing Finance share price on October 29, 2018, rumored a rise of twelve percent in its net income at Rs 573.16 large integer for second quarter concluded Sep 2018.

The company had registered a net income of Rs 513.88 large integer in its net income within the corresponding July-September amount of 2017-18.

Net interest income edged up five percent y-o-y to ₹1,012 large integer against ₹963 large integer within the same amount within the previous year.

Total loan disbursements were up thirty percent to ₹14,272 large integer against ₹10,975 large integer within the corresponding amount within the previous year.

Vinay Sah, MD & CEO, LIC Housing Finance share price, said: In the second quarter of the year, we’ve got seen robust disbursal growth and expect the trend to continue in future quarters.

The company said it paid the planned dividend of Rs 6.80 per share once shareholders approved an annual general meeting command in August. LIC HFL is principally engaged within the business to supply loans for purchase or construction of residential homes.

Speaking on the performance, Vinay Sah, MD, and CEO, LIC Housing Finance said, “In the second quarter of the financial year, we have seen strong disbursal growth and expect the trend to continue in future quarters.”

Sah underscored that the corporate continues to get pleasure from comfy liquidity position.Net interest margin for the coverage quarter was a shade lower at 2.35 percent against 2.38 percent within the year-ago quarter, according to the report of Thehindubusinessline. Gross non-performing assets (GNPAs) rose to 1.20 percent of gross loans as on September 30, 2018, against 0.80 percent as on September 30, 2017.

“The company recorded a strong growth in the affordable segment both in value and volume terms and is poised to continue its growth trajectory. The company continues to enjoy a comfortable liquidity position,” Vinay Sah added in Economic Times report.

LIC Housing Finance share price closed 2.91 percent higher at Rs 417.10 on BSE.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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