LIC Housing Finance has reported an 11.25% year-on-year (YoY) increase in its consolidated net profit for the second quarter of the current fiscal year (Q2FY25).
LIC Housing Finance Q2
The company’s net profit reached ₹1,327.71 crore for the September quarter, compared to ₹1,193.48 crore in Q2 of the previous year.
Key Financial Highlights
- Revenue from Operations: The total revenue for Q2FY25 was ₹6,937.72 crore, marking a 2.5% increase from ₹6,765.44 crore in the same quarter last year. This growth was primarily driven by higher interest income.
- Interest Income: The interest income for Q2FY25 increased to ₹6,859.96 crore from ₹6,712.63 crore in Q2FY24, contributing to the rise in total revenue.
Net Interest Income and Expenses
- Net Interest Income (NII): LIC Housing Finance reported a 6% YoY decline in net interest income, which dropped to ₹1,974 crore from ₹2,107 crore in the prior-year period.
- Total Expenses: Total expenses for the quarter were slightly lower at ₹5,274.61 crore compared to ₹5,282.83 crore in the same period last year, showing marginal cost control.
Operating Profit and Standalone Profit After Tax
- Pre-Provision Operating Profit (PPOP): The pre-provision operating profit declined by 8.3% YoY, coming in at ₹1,742 crore, down from ₹1,899 crore in the corresponding period last year.
- Standalone Profit: On a standalone basis, the profit after tax for Q2FY25 increased nearly 12% to ₹1,328.89 crore, up from ₹1,188.05 crore in Q2FY24. Standalone revenue from operations was reported at ₹6,925.81 crore compared to ₹6,752.83 crore YoY.
Stock Performance and Market Reaction
LIC Housing Finance shares have experienced substantial growth over the past year, appreciating approximately 41%. The stock reached a 52-week high of ₹827 on July 16, 2024, while its 52-week low was ₹435 on October 30, 2023. On Monday, the stock closed 3.39% higher at ₹618.45 on the Bombay Stock Exchange (BSE) as the Sensex and Nifty 50 indices recovered after a five-day losing streak.
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