Mumbai: mortgage lender LIC Housing Finance on Monday suggested a 19 consistent with cent jump ininternet earnings at Rs 382.13 crore for the April-June quarter on better margins and higher asset first-class.
The company had suggested a earnings after tax (PAT) of Rs 322.31 crore for the corresponding period ayr ago.
“We had higher margins because of our strategies to have better asset pleasant, higher asset blend…we’ve stepped forward our better yielding products,” coping with director and CEO Sunita Sharma toldjournalists right here.
net hobby margins stood at 2.41 according to cent as against 2.19 consistent with cent in the year–in the past duration.
The upward push in income became also because of reduction in borrowing price which fell to sixteenin line with cent from 19 per cent as of March 31, 2015.
“we’ve got decided to lessen bank borrowing from 25 in line with cent to 19 in keeping with cent in FY15, and now it’s miles at 16 consistent with cent. we are lowering the high price borrowing and increasingthe low value borrowing, this is, we are raising budget via non-convertible debentures (NCDs),” Ms Sharmasaid.
The company has a target to elevate Rs forty,000 crore through NCDs in FY16. It raised Rs 7,000 croreinside the first sector.
total gross NPAs on developer loans had been zero.60 according to cent, as against 0.eighty consistent with cent within the yr–in the past length. Gross NPAs in person segments have been zero.36 in step with cent as towards zero.40 consistent with cent in advance.
internet NPAs stood at zero.33 in step with cent as towards 0.49 in keeping with cent ultimate yr.
general profits turned into up 17 in line with cent at Rs 2,965 crore as against Rs 2,544 crore.
for the duration of the quarter, total mortgage dispensed changed into Rs 6,124 crore as towards Rs5,560 crore for the first zone of FY15.
The excellent loan portfolio turned into up 18 in step with cent at Rs 1,10,411 crore as in opposition toRs ninety three,609 crore.
The man or woman loan portfolio stood at Rs 1,07,704 crore as towards Rs ninety one,058 crore.
Developer mortgage portfolio become Rs 2,708 crore as in opposition to Rs 2,551 crore.