LIC Housing Finance’s net profit falls 5% at Rs 399 cr for Q4FY21
New Delhi: LIC Housing Finance’s net profit fell 5 percent at Rs 399 crore for the fourth quarter of the last fiscal as compared to Rs 421 crore in the same quarter of the previous fiscal.
During the fourth quarter of the last fiscal, the provisions made by the company stood at Rs 1,000 crore. The total disbursements made by the company were Rs 22,362 crore which is almost twice of the disbursements made in the same quarter of the previous fiscal at Rs 11,323 crore, the company said in a regulatory filing.
For the whole of last fiscal, the net profit jumped 14 percent to Rs 2,734 crore as compared to Rs 2,402 crore in the previous year.
"We made provision for all the delinquencies in the fourth quarter. So, NPA provisioning was on the higher side which affected the profit during the quarter," LIC HFL Managing Director and CEO Y Viswanatha Gowd said.
The net interest income (NII) jumped 33 percent to Rs 1,505 crore in the fourth quarter of the previous fiscal as compared to Rs 1,134 crore for the same period in the previous fiscal.