LIC Housing Fin Q3 net up 25.6% at Rs 296.7cr: ICICIdirect

ICICIdirect.com has come out with its October-December earnings estimates for the NBFC sector. The brokerage house expects LIC Housing Finance to report a 4.3 percent decrease quarter-on-quarter (up 25.6 percent Y-o-Y) in net profit at Rs 296.7 crore.

Net interest income of LIC Housing Finance are expected to increase by 3.4 percent Q-o-Q (up 26.8 percent Y-o-Y) to Rs 468.7 crore, according to ICICIdirect.com.

ICICIdirect.com on LIC Housing Finance:

Owing to 10 bps increase in the individual home loan rates and change in the liability mix (reduced bank borrowings) we believe LIC Housing Finance may witness improvement in spreads. We expect NIM to be in the range of 2.2 to 2.3 percent. NII to grow at healthy pace of 26.8 percent Y-o-Y to Rs 469 crore. Other income to decline sequentially, owing to one-offs occurred in Q2. Asset quality to remain steady. PAT growth of 25.6 percent Y-o-Y to Rs 297 crore expected.

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