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  1. LIC Housing Finance shares climb after Q4 FY24 results, dividend; details here

LIC Housing Finance shares climb after Q4 FY24 results, dividend; details here

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2 min read • Updated: May 16, 2024, 10:16 AM

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Summary

LIC Housing Finance reported a net profit of ₹1,091 crore in Q4 FY24, down 7.5% from ₹1,180 crore in the corresponding period last year. The total income increased 8.1% to ₹6,937 crore in the March 2024 quarter as against ₹6,415 crore in the year-ago period.

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LIC Housing Finance was trading 0.4 per cent higher at ₹633 on the NSE.

Shares of LIC Housing Finance Limited climbed on Thursday after the company announced its earnings for the fourth quarter ended in March 2024.

At 10:10 am, the stock was trading 0.4% higher at ₹633 on the National Stock Exchange (NSE). It was up 0.5% to ₹633 on the BSE.

The total market capitalisation (m-cap) of the housing finance mortgage loan company stood at ₹34,860 crore, while the free float m-cap was ₹19,151 crore.

LIC Q4 results

LIC Housing Finance reported a net profit of ₹1,091 crore in Q4 FY24, down 7.5% from ₹1,180 crore in the corresponding period last year. The total income increased 8.1% to ₹6,937 crore in the March 2024 quarter as against ₹6,415 crore in the year-ago period.

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The mortage financer's total disbursements were at ₹18,232 crore in Q4 FY24, up 14% from ₹16,027 crore for the same period in FY23. Out of this, disbursements in the individual home loan segment stood at ₹14,300 crore, up by 15% from ₹12,406 crore in March quarter of FY23, while project loans were at ₹1,501 crore, down from ₹1,554 crore in fourth quarter last year.

The individual home loan portfolio was at ₹2,44,205 crore as on March 31, 2024, as against ₹2,28,730 crore as on last fiscal, reflecting an 7% increase year-on-year. The project loan portfolio stood at ₹8,036 crore in FY24compared to ₹11,738 crore in FY23.

For the financial year 2023-24, the company recorded a 65% increase in net profit to ₹4,765 crore, compared to ₹2,891 crore in the last fiscal year.

The company's board also recommended a final dividend of ₹9 per share of ₹2 face value for FY24.