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LIC Housing Finance share price surges 13% as Q3 PAT rises to Rs 767 crore

Net interest income (NII) grew 14 percent to Rs 1,455 crore, as against Rs 1,281 crore for the same period in the previous year. Net interest margin (NIM) improved to 2.42 percent as against 2.36 per cent. Gowd expects Q4 NIM to be at around 2.50 percent.

January 28, 2022 / 11:29 AM IST
PNB Housing Finance | Kapish Jain, Chief Financial Officer and Key Managerial Personnel of the company has tendered his resignation.

PNB Housing Finance | Kapish Jain, Chief Financial Officer and Key Managerial Personnel of the company has tendered his resignation.

 
 
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LIC Housing Finance share price jumped over 13 percent in the morning session on January 28, a day after the company declared its December quarter results.

The mortgage lender reported a 6 percent increase in profit after tax at Rs 767.33 crore for the quarter ended December 2021, aided by higher collections and drop in provisions. It had reported a profit after tax of Rs 727.04 crore in the same period of the previous fiscal.

"The income levels were more or less maintained. Our collections were good during the three months of the quarter. Recovery also picked up across all the regions.

"Even the provisions were less in the quarter because of the provisions we had made earlier," the company's Managing Director and CEO Y Viswanatha Gowd said.