LIC reports 12 per cent PAT growth

LIC’s net interest income for the second quarter of FY19 stood at Rs. 1,012 crore, as against Rs. 963 crore for the same period in the previous year. Net interest margins for the period stood at 2.35 per cent. Net profit for the quarter stood at Rs. 573.16 crore as compared to Rs. 513.88 crore in Q2FY18.

The company's total income for Q2FY19 was at Rs. 4,203 crore as against Rs. 3,759 crore during Q2FY18, representing a growth of 12 per cent.

The total loan portfolio stood at Rs. 1,75,953 crore as against Rs. 1,51,417 crore which represents a growth of 16 per cent.

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

Reacting to the results, the stock of LIC on Tuesday dipped to an intraday low of Rs. 404 apiece, down by almost 3 per cent from its previous close. The stock closed for the day at Rs. 407.3, apiece, down by 2.4 per cent.