Gold Silver Reports (GSR) – LIC Housing Finance Shares of the Mumbai-based mortgage lender fell as much as 7.5 percent, the most in over 21 months, to Rs 530.30 after it reported weak April-June quarter earnings.
Key earnings highlights:
✅ Net interest income (NII) grew 6.6 percent to Rs 980 crore versus Rs 919.4 crore.
✅ Net profit grew 18.3 percent to Rs 568 crore versus Rs 480 crore.
✅ Net interest margin (NIM)at 2.34 percent versus 2.52 percent YoY (Despite hike in lending rate during the quarter)
✅ Gross non-performing assets (NPA) at 1.21 percent versus 0.78 percent (YoY)
✅ Within individual loans, core retail growth was slow at 9 percent (YoY)
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