Expecting double digit disbursement and loan book growth this year: Tribhuwan Adhikari, LIC Housing Finance
«We had to provide for some arrears of wage revision which is impending, almost about 32 crores, arrears for gratuity. There has been a slight change in the way we calculate gratuity,» says Tribhuwan Adhikari, MD & CEO, LIC Housing Finance.
Q4 clearly has been a good quarter for you. Your NII, PPOP all look good, but there is a slight dip in your PAT as well. Help us understand what is really weighing in on the profitability, given that teething issues one was seeing around your new technical software and your organisational structure now seem to have been resolved.
I would say we maintained our profit before tax of Q3 as compared to Q4. Yes, for the year the profits have been good. Nothing really weighing on the profits as such. Yes, there were some one-off expenses in Q4 which probably weighed on our net profit.
We had to provide for some arrears of wage revision which is impending, almost about 32 crores, arrears for gratuity. There has been a slight change in the way we calculate gratuity.
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Publicity expenses, of course, required expense has been slightly higher in Q4 as compared to the other quarters. Tax expenses or the deferred tax liability I did talk about. And ECL, we also had to make an additional provisioning of approximately about Rs 100 crores because of
