LIC Housing Finance, for Q3FY22 reported a good 6% (YoY) rise in net profit at Rs.767 crore.

Provisions fell from Rs.665 crore to Rs.355 (QoQ). The provisions for expected credit loss stood at Rs 5,716 crore, up 94% (YoY) and up 6% (QoQ). The stage-3 exposure at default rose to 5.04% v/s 2.68% (YoY).

Its individual loan book has grown from Rs.2,04,444 crore to ?2,29,321 crore, up 12%.

NII was up 14% (YoY) at Rs.1455 crore and NIM improved from 2.36% to 2.42% (YoY).

The stock price, which had closed at Rs.345.35 yesterday, opened today at Rs.358 and went up to Rs.396.65, not too far from its 15% UC of the day at Rs.397.15.