LIC Housing Fin - Announces Q2 results

LIC Housing Fin - Announces Q2 results & Limited Quarter ended September 30, 2015

Any news about latest quarterly results ?

 

Good results:

Country's second largest housing finance company LIC Housing Finance 's second quarter net profit increased 20.7 percent to Rs 412 crore compared to Rs 341.3 crore in year-ago period, supported by strong net interest income. Higher provisions and tax expenses limited profit growth. Net interest income grew by 34.8 percent to Rs 717 crore in the quarter ended September 2015 from Rs 532 crore in same quarter last year. NII is the difference between interest earned and interest expended.

Numbers were higher than analysts' expectations. Profit was estimated at Rs 400.4 crore (up 17 percent) and net interest income at Rs 670 crore (up 26 percent) for the quarter, according to average of estimates of analysts polled by CNBC-TV18. Provisions for bad loans stood at Rs 30 crore in July-September quarter against write back of Rs 19.03 crore in year-ago period but on sequential basis, it declined 32.3 percent. Tax expenses in second quarter climbed 32.4 percent to Rs 232.50 crore compared to Rs 175.63 crore paid in corresponding quarter of previous fiscal.

Read more at: https://www.moneycontrol.com/news/results/lic-housing-q2-profit21strong-nii-provisions-high_3609141.html

 

LIC is a stock to have in portfolio for slow and steady growth .If you want to have slightly market beating returns without any fire crackers which can even burn you also,this is right stock to have.I do have in my portfolio.