BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
LIC Housing Finance Ltd.'s profit after tax declined by 81% YoY (78% miss) to Rs 1.5 billion in Q1 FY22.
Higher than estimated finance costs of Rs 36 billion led to a 13% miss on our net interest income estimate.
Elevated credit costs of Rs 8.3 billion (estimate - Rs 4.5 billion) added to the large profit after tax miss.
Large wage revisions undertaken in Q1 FY22 have led to a spike in operating expenses, leading to a weak operating performance.
LIC Housing Finance delivered a healthy loan growth in home loans.
However, loan against property and developer book growth has slowed down. Collection efficiency improved to 98% in June 2021.
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