Other income was lower by 13% to Rs 29.21 crore, thus restricting the total income to Rs 946.09 crore, up by 2% YoY. Operating Expense was up by 3% to Rs 137.79 crore. The growth in OP thus was up by 2% to Rs 808.30 crore.

There was a provision of Rs 57.83 crore as compared to a provision of Rs 30.31 crore for Sep 16 quarter. After providing deprecation of Rs 2.42 crore, PBT was down by 2% to Rs 748.05 crore. After providing total tax of Rs 258.94 crore, PAT for the Sep 17 quarter stood at Rs 489.11 crore, down by 1% YoY.

Speaking on the performance, MD & CEO, LIC Housing Finance, Mr. Vinay Sah said, "We have witnessed steady loan growth during the quarter and will continue to see progress in the sector in future. The affordable housing is expected to grow further in 2018 and will be a strong driving force for LIC HFL. Though there has been a temporary blip in Margins and NPAs, we are confident and optimistic about our performances during the second half of the current financial year."

Other updates

During the quarter, the company disbursed loans of Rs 10975 crore as against Rs 9123 crore for Q2 FY17 a growth of 20%. Disbursements in the individual loan category recorded a growth of 18% from Rs 8755 crore to Rs 10367 crore. The Individual loan portfolio stood at Rs 145486 crore as against Rs 127434 crore, a growth of 14%.

The outstanding mortgage portfolio as on September 30, 2017 was Rs 151417 crore as against Rs 131096 crore on September 30, 2016, thus registering a growth of 16%.

Net interest margins for the Q2 FY18 stood at 2.38% as against 2.68% for Q2 FY17.

Net NPAs stood at 0.43% as on September 30, 2017 as against 0.28% as on September 30, 2016.

Total provision including general provision on standard loans is Rs 1192 crore as on September 30, 2017 against Gross NPAs of Rs 1211 crore on the same date.

Performance for H1 ended Sep 17

LIC Housing Finance reported 6% YoY growth in net interest income (NII) to Rs 1853.82 crore for H1 ended Sep 17. Net interest margins (NIM) for the H1 FY18 stood at 2.43% as against 2.64 % for H1 FY17.

Other income was lower by 6% to Rs 50.60 crore, thus restricting the total income to Rs 1904.42 crore, up by 5% YoY. Operating Expense was flat at Rs 270.72 crore. The growth in OP thus was up by 6% to Rs 1633.70 crore.

There was a provision of Rs 162.29 crore as compared to a provision of Rs 146.76 crore for H1 ended Sep 16. After providing deprecation of Rs 4.87 crore, PBT was up by 6% to Rs 1466.54 crore. After providing total tax of Rs 507.36 crore, PAT for the H1 ended Sep 17 stood at Rs 959.18 crore, up by 6% YoY.