LIC Housing Finance reports Rs 408 crore profithttps://indianexpress.com/article/business/economy/lic-housing-finance-reports-rs-408-crore-profit-2917038/

LIC Housing Finance reports Rs 408 crore profit

Total income for the quarter rose more than 14 per cent year-on-year to Rs 3,359.68 crore, on the back of growth in loan disbursal.

 

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LIC Housing Finance reported a net profit of Rs 407.84 crore for the June quarter.

LIC Housing Finance reported a net profit of Rs 407.84 crore for the June quarter, up 6.7 per cent from the corresponding period a year ago, as a surge in provisions kept the bottom line subdued.

Total income for the quarter rose more than 14 per cent year-on-year to Rs 3,359.68 crore, on the back of growth in loan disbursal. Net interest income, which is the difference between interest earned and interest expended, grew 25 per cent to Rs 825 crore. The firm witnessed a 20 bps YoY expansion in its net interest margin for the quarter, which stood at 2.61per cent.