LIC Housing Finance net profit dips 9.14% in Q4 of FY24; Rs 10.8206 bn

17 May 2024 CW Team

Tribhuwan Adhikari, MD & CEO said, "Our focus on reduction in NPA and control over cost of funds have enabled us to close the year with a record high margins and profits." The board of directors approved a dividend recommendation of 450% for the financial year 2023-2024, translating to Rs. 9 per equity share of Rs 2 each. Additionally, Anil Kaul was appointed as an additional independent director on the board. As of March 31, 2024, the company's net worth stood at Rs 292.2651 billion, with a debt-equity ratio of 8.77. The total debts to total assets ratio was 0.88%, the operating margin was 22.33%, the net profit margin was 17.50%, gross non-performing assets were at 3.31%, net NPA at 1.63%, and the liquidity coverage ratio was 175.34%. In Q4 FY24, the net interest income amounted to Rs 22.38 billion, with net interest margins at 3.15%. Total disbursements reached Rs 182.32 billion, a 14% increase from the corresponding period in FY23. Individual home loan disbursements were at Rs 143 billion, up by 15%, while project loans were at Rs 15.01 billion. The net interest income rose by 12% to Rs 22.3760 billion, and the net interest margin stood at 3.15%. As of March 31, 2024, the individual home loan portfolio reached Rs 2442.05 billion, a 7% increase from the previous year, while the project loan portfolio was at Rs. 80.36 billion. The total outstanding portfolio grew by 4% to Rs. 2868.44 billion. Under IndAS, asset classification and provisioning changes for future credit loss are reported on an Expected Credit Loss (ECL) basis. The provisions for ECL stood at Rs. 62.7006 billion as of March 31, 2024, compared to Rs 72.3026 billion in the previous year. The Stage 3 Exposure at Default as of March 31, 2024, decreased to 3.31% from 4.37% as of March 31, 2023. (Source: ET Energy)

LIC Housing Finance disclosed a 9.14 % decline in its net consolidated profit for the quarter ending March 31, 2024. Its profit after tax reached Rs 10.8206 billion in Q4 FY24, down from Rs 11.9088 billion in the corresponding period of the previous fiscal, as per the company's filing with BSE. The net consolidated total income for Q4 FY24 amounted to Rs 69.4861 billion, marking an 8.04% increase from Rs 64.3123 billion in the same quarter last year. Tribhuwan Adhikari, MD & CEO said, Our focus on reduction in NPA and control over cost of funds have enabled us to close the year with a record high margins and profits. The board of directors approved a dividend recommendation of 450% for the financial year 2023-2024, translating to Rs. 9 per equity share of Rs 2 each. Additionally, Anil Kaul was appointed as an additional independent director on the board. As of March 31, 2024, the company's net worth stood at Rs 292.2651 billion, with a debt-equity ratio of 8.77. The total debts to total assets ratio was 0.88%, the operating margin was 22.33%, the net profit margin was 17.50%, gross non-performing assets were at 3.31%, net NPA at 1.63%, and the liquidity coverage ratio was 175.34%. In Q4 FY24, the net interest income amounted to Rs 22.38 billion, with net interest margins at 3.15%. Total disbursements reached Rs 182.32 billion, a 14% increase from the corresponding period in FY23. Individual home loan disbursements were at Rs 143 billion, up by 15%, while project loans were at Rs 15.01 billion. The net interest income rose by 12% to Rs 22.3760 billion, and the net interest margin stood at 3.15%. As of March 31, 2024, the individual home loan portfolio reached Rs 2442.05 billion, a 7% increase from the previous year, while the project loan portfolio was at Rs. 80.36 billion. The total outstanding portfolio grew by 4% to Rs. 2868.44 billion. Under IndAS, asset classification and provisioning changes for future credit loss are reported on an Expected Credit Loss (ECL) basis. The provisions for ECL stood at Rs. 62.7006 billion as of March 31, 2024, compared to Rs 72.3026 billion in the previous year. The Stage 3 Exposure at Default as of March 31, 2024, decreased to 3.31% from 4.37% as of March 31, 2023. (Source: ET Energy)

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Infrastructure Urban

01 Jun 2026

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

Infrastructure Urban

01 Jun 2026

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..