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Login Open ICICI 3-in-1 Account

Entry Price

467.00

Target

475.00

Recommend Date

16-02-2021

Return

1.71 %
BUY

Date : 16-02-2021

LIC Housing Finance (LICHF) saw improved traction in individual business during the quarter while operating performance was steady. NII for LICHF saw flattish growth of 2.2% YoY at | 1281 crore, mainly on account of 6 bps YoY decline in margins to 2.36. Recent management commentary indicated that margins were benefitted from lower funding cost which was down by 36 bps in Q3FY21 and 83 bps in current fiscal, as liquidity environment remained favourable for the company. Other income jumped 73% YoY to | 48 crore aiding topline. Cost-to-income sequentially was steady at 13.4% vs. 13.2%. Provisions declined YoY by 54% to | 181 crore but QoQ were up 75%. Total provisions for Covid related and standstill accounts is to the tune of ~| 400 crore. PAT for the quarter was up 22% YoY to | 727 crore.