LIC Housing Finance Q3 outcomes: LIC Housing Finance Ltd (LICHFL) on Monday reported a 37 per cent fall in web revenue at Rs 480.3 crore for the quarter that ended December 2022 on account of greater bills.

The corporate’s Web Curiosity Earnings (NII) was at Rs 1,606 crore within the December quarter as in opposition to Rs 1,455 crore within the year-ago interval, reported the corporate in its inventory alternate submitting.

“Web revenue after tax stood at Rs 480.30 crore in contrast with Rs 767.33 crore throughout the identical interval within the earlier yr,” LICHFL mentioned.

The corporate’s income from operations within the third quarter of 2022-23 stood at Rs 5,871 crore, witnessing a rise of 16 per cent in comparison with Rs 5,054 crore in the identical interval a yr in the past.

“After two years of pandemic-induced restrains, enthusiasm amongst dwelling consumers remained upbeat. Rising rates of interest and inflationary traits continued to place upward strain on dwelling costs in lots of areas. Asset high quality remained steady with an bettering development and margins expanded q-o-q,” Y Viswanatha Gowd, MD & CEO of LIC Housing Finance, mentioned.

The corporate’s complete disbursements for the quarter have been Rs 16,100 crore, which was beforehand Rs 17,770 crore for the corresponding interval in 2021-22.

Out of the entire quantity, disbursement within the particular person dwelling mortgage phase stood at Rs 13,580 crore as in opposition to Rs 15,341 crore within the comparable interval of the final fiscal. Venture loans have been at Rs 427 crore in contrast with Rs 293 crore for a similar quarter within the earlier yr.

LICHFL mentioned the person dwelling mortgage portfolio stood at Rs 2,23,064 crore within the newest December quarter as in opposition to Rs 1,95,901 crore in the identical interval of the final fiscal.

The venture mortgage portfolio stood at Rs 10,857 crore as in opposition to Rs 14,091 crore as on December 31, 2021.

Additional, the housing finance firm mentioned its complete excellent portfolio grew 10 per cent to Rs 2,68,444 crore within the three months ended December 2022 from Rs 2,43,412 crore within the year-ago interval.

Through the 9 months that ended December 2022, complete disbursements stood at Rs 48,088 crore. It was up 13 per cent in comparison with Rs 42,532 crore in the identical interval a yr in the past.