Revenue from operations increased by 7% YoY during the quarter to Rs 5,299.66 crore. Net interest income improved by 9% to Rs 1637.49 crore in Q4 FY22 over Q4 FY21.

Impairment on financial instruments and net loss on de-recognition of financial instruments was Rs 192.46 crore in Q4 FY22, which is lower by 80% as compared with Q4 FY21.

Consequently, profit before tax in Q4 FY22 stood at Rs 1314.41 crore, up by 273% from Rs 352 crore in Q4 FY21.

Tax expense for the period under review was Rs 195.77 crore. The company had written back taxes aggregating to Rs 46.92 crore in the corresponding period last year.

The company reported 16% fall in net profit to Rs 2,287.28 crore on a 0.4% rise in revenue from operations to Rs 19,919.07 crore in FY22 over FY21.

Net interest income increased by 6% YoY to Rs 5,534.81 crore in FY22. Net interest margin (NIM) for FY22 stood at 2.29% as against 2.37% for the previous year.

For the year ended 31 March 2022, total disbursements stood at Rs 61,848 crore against Rs 55,223 crore for the same period of the previous year, recording a growth of 12%.

Out of this, the individual home loan segment registered disbursements of Rs 53,662 crore as against Rs 46,927 crore for the same period of the previous year, a growth of 14%. Total disbursements under project loans stood at Rs 1312 crore as against Rs 3011 crore for the previous fiscal.

Speaking on the performance, Y. Viswanatha Gowd, managing director & chief executive officer of LIC Housing Finance, said, “Our performance during the last quarter has showed a marked improvement on all fronts due to easing of pandemic situation in India and fueled by some good business initiatives from our company.

Overall FY 2022 was a volatile year during which we managed to neutralize the effects of pandemic and recover. With this, we have entered FY 2023 on a very positive note. We expect stable growth over the next year, despite the recent monetary tightening and interest rate hikes announced by regulators globally.”

LIC Housing Finance is one of the largest housing finance companies in India. It has one of the widest networks of offices across the country and representative offices in Dubai.