New Delhi: LIC Housing Finance on Wednesday announced its financial results for the fourth quarter of FY23, reporting a growth of 5.5%.

The company reported a net profit of Rs. 1,180.3 crore, indicating a growth of 5.5% compared to the same period last year when it was Rs. 1,118.6 crore.

The net interest income (NII), which represents the difference between interest income from lending activities and interest paid to depositors, was Rs. 1,990.3 crore for the January-March quarter. This marked a significant growth of 22.1% compared to Rs. 1,630 crore in the corresponding period of the previous year.

The company's board also has recommended a dividend of Rs. 8.50 per equity share of Rs. 2 each (425% dividend) for the financial year 2022-23. The dividend payout on equity shares will be made after the company's annual general meeting (AGM).

LIC Housing Finance's revenue for the quarter ended March 2023 was Rs. 6,415.11 crore, showing a year-on-year growth of 21.04% compared to Rs. 5,299.66 crore in the same quarter last year.

As of March 31, 2023, the company's net worth was reported as Rs. 24,674.98 crore. The debt-equity ratio stood at 10.08, indicating a moderate level of debt. The total debts to total assets ratio was 0.90%, and the operating margin was 15.70%.

The net profit margin was reported at 12.75%. The company's gross non-performing assets (NPAs) stood at 4.41%, while net NPAs were at 2.50%. These figures reflect the company's asset quality and the level of non-performing loans.

During the January-March period, LIC Housing Finance's total income amounted to Rs. 6,415.17 crore, representing a year-on-year increase of 20.83%.

On May 16, the company's shares settled at Rs. 395.10 apiece on the BSE, registering a decline of 3.47% for the day.

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