LIC Housing Finance has reported a 7% decline in its net profit after tax of Rs 42 crore for the third quarter ended December 31, 2004 as compared to Rs 45.23 crore for the quarter ended December 31, 2003. According to a release issued to the BSE, total income has increased from Rs 252.83 crore in Q3-03 to Rs 268.42 crore for the quarter ended December 31, 2004.