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. reported a profit after tax of Rs 2.48 billion (~60% miss), down ~70% YoY, driven by its overall net interest income miss (down 8% QoQ; 12% miss), higher operating expense (42% miss, led by a one-off of Rs 470 million in employee expenses), and elevated provisions of Rs 6.4 billion (estimate: Rs 4 billion).
Pre-provision operating profit fell 8% QoQ and 15% YoY (20% miss) to Rs 9.5 billion.
LIC Housing Finance's growth was healthy in Individual home loans, up ~15% YoY and 3.4% QoQ.
The overall loan book was up 11% YoY and 2% QoQ. Collection efficiency stood at 99% in September 2021.
In our view, the demand for individual home loans will remain robust in the medium-term which will feed into better disbursements in the wholesale segment as well.
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