ICICIdirect has come out with its third quarter (October-December) earnings estimates for the financial sector. The brokerage house expects LIC Housing Finance to report a 10.1 percent growth quarter-on-quarter (growth of 15.1 percent year-on-year) in net profit at Rs375.5 crore.
Net interest income is expected to increase by 3.5 percent Q-o-Q (up 20.3 percent Y-o-Y) to Rs 550.7 crore, according to ICICIdirect.
ICICIdirect's Report on LIC Housing Finance:
Decline in money market rates may help improve LIC HF's margins in Q3. Further, improving disbursements to high yielding segments like corporate loans and loan against property should further support NIMs. We expect NIMs to increase to 2.3 percent from 2.23 percent in Q2. Credit increase of 17.8 percent Y-o-Y is estimated at Rs 101762 crore led by the retail segment. NII of Rs 551 crore (up 20 percent Y-o-Y) is estimated. Asset quality is expected to stay steady.
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