MUMBAI: LIC Housing Financereported another quarter of muted growth with profit rising 1.9% during the three months ended March 31, 2018.During the quarter, the company reported profit of Rs 539 crore as against Rs 529 crore in the corresponding quarter in the previous year.
The company saw overall loan growth of 15% while individual home loan growth of 11%. Its margins improved to 2.49% from 2.39% a quarter ago.
The company’s net interest income- difference between interest earned and interest expended grew by 6%.
“LIC suffered twin blows in FY18 as it suffered massive re-pricing in its individual home loan book and at the same time, it lost market share to aggressive competitors,” said Digant Haria analyst Antique Stock Broking. “While margin pressures may be over, we don't see immediate improvement in either growth or margins.”
Shares of the company rose 1.86% to Rs 550.20 on the BSE.
Source- ET Realty
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