Q4 2024 LIC Housing Finance Ltd Earnings Call Transcript

May 16, 2024 / 06:00AM GMT

Release Date Price: ₹652.95 (+3.60%)

Transcript

Key Points

Positve

LIC Housing Finance Ltd (BOM:500253) reported a Q-on-Q revenue growth of 8%, with total revenue from operations increasing from INR6,415 crores to INR6,936 crores.
The individual home loan portfolio grew by 7%, standing at INR2,44,205 crores, which comprises 85% of the total portfolio.
Total disbursements for the quarter increased by 14%, reaching INR18,232 crores, with individual housing loan disbursements up by 15%.
Net interest income (NII) grew by 12% to INR2,237 crores, and net interest margins (NIM) improved to 3.15% from 2.93% in the previous quarter.
The company declared a dividend of 450%, or INR9 per share, reflecting strong profitability and shareholder returns.

Negative

Profit before tax (PBT) showed only a marginal growth of 2%, standing at INR1,476.18 crores.
Profit after tax (PAT) for the quarter decreased to INR1,090.82 crores from INR1,180 crores in the same period last year.
The cost of funds increased by 13 basis points during the year, from 7.63% to 7.76%, impacting overall profitability.
Stage 2 provisions and expected credit loss (ECL) increased significantly, indicating higher risk in certain loan segments.
The company made a technical write-off of INR1,080.57 crores during Q4, with total technical write-offs for the year amounting to INR2,005.62 crores, reflecting challenges in asset quality.

Operator

Ladies and gentlemen, good day, and welcome to LIC Housing Finance Q4 FY24 earnings conference call hosted by Axis Capital Limited. (Operator Instructions) Please note that this conference is being recorded.

I now hand the conference over to Mr. Praveen Agarwal from Axis Capital Limited. Thank you, and over to you, sir.

Praveen Agarwal

Axis Capital Ltd - Investor Relations

Thanks, Steve, and good day, everyone, and welcome to the earnings call of LIC Housing Finance. From the management team, we have Mr. Tribhuwan Adhikari, MD and CEO, and Mr. Sudipto Sil, CFO, to take us through the key highlights of the results post which we'll open the floor for Q&A. Over to you, sir, for your initial remarks. Thank you.

Tribhuwan Adhikari

LIC Housing Finance Ltd - Chief Executive Officer, Managing Director, Additional Director

Thank you, Praveen. Good morning, ladies and gentlemen, and welcome all of you to the post-earnings conference call of LIC Housing Finance Limited. As you are aware, we declared our Q4

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