Other income was lower by 47% to Rs 4.37 crore, which helped the total income to Rs 1064.27 crore, up by 9% on YoY. Operating Expense was down by 12% to Rs 98.03 crore which lead OP growth of 11% to Rs 966.24 crore.

There was a provision of Rs 217.95 crore down by 3% YoY. After providing deprecation of Rs 2.94 crore, PBT was up by 17% to Rs 745.35 crore. After providing total tax of Rs 172.18 crore, PAT for the Sep 18 quarter stood at Rs 573.17 crore, up by 12% YoY.

Speaking on the performance, Mr. Vinay Sah, MD & CEO, LIC Housing Finance said, "In the Second quarter of the financial year, we have seen strong disbursal growth and expect the trend to continue in future quarters. The company recorded a strong growth in the affordable segment both in value & volume terms and is poised to continue its growth trajectory. The Company continues to enjoy comfortable liquidity position."

Other updates

In the quarter ended September 30, 2018, total disbursements were Rs. 14272 crore as against Rs. 10975 crore for the corresponding period in the previous year registering a growth of 30%. Out of that, disbursements in the retail loan segment were Rs. 11324 crore against Rs. 10367 crore, whereas total disbursements in project loans was Rs. 2948 crore as against Rs. 608 crore for quarter ended September 30, 2017.

The company continues to witness good growth in Affordable Housing segment with the segment accounting for 16% of disbursements in terms of number of accounts and 13.5% in terms of amount of disbursements during the quarter under review.

The total loan portfolio stood at Rs. 175953 crores as against Rs. 151417 crores a growth of 16%. The Individual loan portfolio stood at Rs 165102 crores as against Rs. 145486 crores, showcasing a growth of 13.5%. Individual Loans comprises 94% of the total Loan portfolio.

Net Interest margins for Q2 ended September 30, 2018 stood at 2.35%.

As per NHB norms Gross NPAs for the company stood at 1.20% as on September 30, 2018. Gross NPAs in individual segment was 0.81% as on September 30, 2018. The Gross NPAs as on June 30, 2018 was 1.21% and the corresponding figure for Individual Loans was 0.81%.

Performance for 6 months ended Sep 18

LIC Housing Finance reported 13% YoY growth in net interest income (NII) to Rs 2082.47 crore for 6 months ended Sep 18.

Other income was lower by 4% to Rs 13.74 crore, thus leading the total income to Rs 2096.21 crore, up by 13% YoY. Operating Expense was down by 7% to Rs 178.20 crore. The growth in OP thus was at 15% to Rs 1918.01 crore.

There was a provision of Rs 378.70 crore as compared to a provision of Rs 429.21 crore for 6 months ended Sep 17. After providing deprecation of Rs 5.57 crore, PBT was up by 24% to Rs 1533.74 crore. After providing total tax of Rs 392.64 crore, PAT for the 6 months ended Sep 18 stood at Rs 1141.10 crore, up by 22% YoY.