LIC Housing Finance shares hit 52-week high ahead of Q3 results today; here’s what to expect
LIC Housing Finance is estimated to report a 2.4 times year-on-year jump in standalone net profit to Rs 1,140 crore for the October-December period, according to Zee Business research.
LIC Housing Finance shares rose to a 52-week high on Friday, continuing to gain for the seventh session in a row, as investors awaited the non-banking financial company’s quarterly results due later in the day. The stock of Mumbai-headquartered LIC Housing Finance (LICHSGFIN) strengthened by as much as Rs 12.4, or two per cent, to Rs 642 apiece on BSE.
Analysts expect the housing finance firm to stage a strong financial performance later on Friday on the back of robust growth and easing credit costs.
According to Zee Business research, LIC Housing Finance is estimated to report a standalone net profit of Rs 1,140 crore for the quarter ended December 31, 2023, translating into a jump of 2.4 times compared with the corresponding period a year ago. They peg the NBFC’s net interest income (NII), or the difference between interest earned and interest paid, to grow 27 per cent on a year-on-year basis to Rs 2,040 crore.
Zee Business analysts expect LIC Housing Finance’s net interest margin (NIM), a key measure of profitability for financiers, to stand at 3.0 per cent for the fiscal third quarter as against 3.04 per cent a year ago.
The company’s asset quality is estimated to remain steady sequentially, with gross non-performing assets (GNPAs) for the October-December period pegged at 4.3 per cent as against 4.33 per cent three months ago, according to the research.
The analysts peg the company’s net non-performing assets (NNPAs) for the third quarter at 2.6 per cent as against 2.59 per cent the previous three months.
LIC Housing Finance Q2 Results
In November, LIC Housing Finance had staged a mixed financial performance for the fiscal second quarter.
Its net profit rose about four per cent to Rs 1,188 crore with 83.2 per cent growth in NII to Rs 2,106.6 crore for the quarter ended September 30, according to a regulatory filing.
Zee Business analysts had estimated the housing finance firm's second-quarter net profit at Rs 1,225 crore and NII at Rs 2,150 crore.
LIC Housing Finance shares: Past performance
As of February 1, the LIC Housing Finance stock had rewarded investors with a 63.2 per cent return in one year, sharply outperforming a 23.2 per cent rise in the headline Nifty50 index.
Catch the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
12:47 PM IST