LIC HOUSING Announces Quarterly Results (2QFY19); Net Profit Up 17.2%

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LIC HOUSING Announces Quarterly Results (2QFY19); Net Profit Up 17.2%
Tue, 6 Nov

LIC HOUSING has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

LIC HOUSING Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m36,87440,19041,9824.5%13.9%
Other incomeRs m29232044-86.3%-85.0%
Total revenuesRs m37,16640,51042,0263.7%13.1%
InterestRs m27,70530,24931,3833.7%13.3%
Gross Profit Rs m9,1459,91410,5706.6%15.6%
Other expensesRs m1,9562,3503,16034.5%61.5%
Profit before taxRs m7,4817,8847,454-5.5%-0.4%
TaxRs m2,5892,2051,722-21.9%-33.5%
Profit after taxRs m4,8915,6795,7320.9%17.2%
Gross profit margin %24.824.725.2
Effective tax rate%34.628.023.1
Net profit margin%13.314.113.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter grew 13.9% on a year-on-year (YoY) basis. The interest expended was up by 13.3% YoY during the same period.
  • The bank's operating profit increased by 15.6% YoY during the quarter. Consequently, operating profit margins remained same and stood at 25.2% in 2QFY19.
  • Other income declined by 85.0% YoY during the quarter.
  • Net profit for the quarter increased by 17.2% YoY. Net profit margins during the quarter increased from 13.3% in 2QFY18 to 13.7% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 4.5% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 3.7% QoQ during the same period.
  • The bank's operating profit increased by 6.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.2% in 2QFY19 as against 24.7% in 1QFY18.
  • Net profit for the quarter increased by 0.9% QoQ, while net profit margins declined from 14.1% in 1QFY18 to 13.7% in 2QFY19.

To see how LIC HOUSING has performed over the last eight quarters, please visit here.

LIC HOUSING Share Price Performance

Over the last one year, LIC HOUSING share price has moved up from Rs 606.0 to Rs 427.1, registering a Loss of Rs 179.0 or around 29.5%.

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 427.1, the price to earnings (P/E) ratio of LIC HOUSING stands at 9.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.7 times.

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