LIC Housing Finance Q2 net profit dips to Rs489 crore
LIC Housing Finance reported a marginal decline of 1.13% in its net profit at Rs489.12 crore for second quarter of the current fiscal
New Delhi: LIC Housing Finance Ltd on Monday reported a marginal decline of 1.13% in its net profit at Rs489.12 crore for second quarter of the current fiscal.
Its net profit in the corresponding July-September quarter of the previous fiscal was at Rs494.76 crore. Total revenue was up 6.5% to Rs3,716.63 crore during the quarter from Rs3,489.91 crore in the year ago period, it said in a regulatory filing.
In revenue break-up, LIC Housing Finance’s income from operations was up marginally at Rs3,687.42 crore during the quarter from Rs3,456.45 crore a year ago.
Income from other sources fell to Rs29.21 crore as against Rs33.46 crore a year earlier. The company’s main business is to provide loans for purchase or construction of residential houses. Stock of the company closed 0.79% up at Rs619.30 apiece on the BSE on Monday.
- Biocon receives EIR from USFDA for its Bengaluru facility producing sterile
- Infosys to now focus on relentless execution, stability concerns addressed: Nandan Nilekani
- McDonald’s adopts eco-friendly cutlery in West and South India
- US investors seek Chanda Kochhar’s ouster from ICICI Bank
- LIC seeks govt nod to buy controlling stake in IDBI Bank