LIC Housing Finance Q2: LIC Housing Finance on Monday, October 28, reported an 11.25 per cent year-on-year (YoY) rise in consolidated net profit to ₹1,327.71 crore for the September quarter of the current financial year (Q2FY25). For the same quarter last year, the company earned a profit of ₹1,193.48 crore.
Total revenue from operations for the quarter stood at ₹6,937.72 crore, up 2.5 per cent compared to ₹6,765.44 crore in the corresponding quarter of the last financial year. Healthy interest income boosted the company's revenue. Interest income during the quarter stood at ₹6,859.96 crore against ₹6,712.63 crore in the same quarter last year.
The net interest income (NII)—the difference between interest earned on loans and paid on deposit—dropped 6 per cent to ₹1,974 crore against ₹2,107 crore in the year-ago period.
Total expenses for the quarter declined slightly to ₹5,274.61 crore from ₹5,282.83 crore year-on-year.
Pre-provision operating profit (PPOP) declined 8.3 per cent YoY to ₹1,742 crore from ₹1,899 crore in the same quarter last year.
On a standalone basis, the company's profit after tax stood at ₹1,328.89 crore in Q2FY25, rising almost 12 per cent compared to ₹1,188.05 crore in Q2FY24. Total revenue from operations came at ₹6,925.81 crore against ₹6,752.83 crore year-on-year.
LIC Housing Finance stock has witnessed healthy gains over the last one year, rising about 41 per cent. The stock hit its 52-week high of ₹827 on July 16 this year and a 52-week low of ₹435 on October 30 last year.
Shares of LIC Housing Finance closed 3.39 per cent higher at ₹618.45 on BSE on Monday. Stock market benchmarks, the Sensex and the Nifty 50, snapped their five-day losing run to close higher.
Read all market-related news here
Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.