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LIC HOUSING Announces Quarterly Results (4QFY19); Net Profit Up 28.6%

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LIC HOUSING Announces Quarterly Results (4QFY19); Net Profit Up 28.6%
Tue, 7 May

LIC HOUSING has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

LIC HOUSING Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m39,01044,38846,5514.9%19.3%
Other incomeRs m33240-100.0%-100.0%
Total revenuesRs m39,34144,39246,5514.9%18.3%
InterestRs m28,43133,29933,9812.0%19.5%
Gross Profit Rs m10,55211,05912,53913.4%18.8%
Other expensesRs m2,4972,4682,6768.4%7.2%
Profit before taxRs m8,3878,5969,86214.7%17.6%
TaxRs m2,9942,6332,92711.2%-2.3%
Profit after taxRs m5,3935,9636,93616.3%28.6%
Gross profit margin %27.124.926.9
Effective tax rate%35.730.629.7
Net profit margin%13.813.414.9
* 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 19.3% on a year-on-year (YoY) basis. The interest expended was up by 19.5% YoY during the same period.
  • The bank's operating profit increased by 18.8% YoY during the quarter. Consequently, operating profit margins remained same and stood at 26.9% in 4QFY19.
  • Other income declined by 100.0% YoY during the quarter.
  • Net profit for the quarter increased by 28.6% YoY. Net profit margins during the quarter increased from 13.8% in 4QFY18 to 14.9% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 4.9% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 2.0% QoQ during the same period.
  • The bank's operating profit increased by 13.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 26.9% in 4QFY19 as against 24.9% in 3QFY18.
  • Net profit for the quarter increased by 16.3% QoQ, while net profit margins increased from 13.4% in 3QFY18 to 14.9% in 4QFY19.

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 516.3 to Rs 478.5, registering a Loss of Rs 37.8 or around 7.3%.

Overall, the S&P BSE SENSEX is up 9.8% over the year.

Current Valuations

At the current price of Rs 478.5, 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 1.9 times.

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For the quarter ended December 2018, LIC HOUSING has posted a net profit of Rs 6 bn (up 21.4% YoY). Sales on the other hand came in at Rs 44 bn (up 18.7% YoY). Read on for a complete analysis of LIC HOUSING's quarterly results.

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