 "LIC Housing Finance gains post Q3 results")
LIC Housing Finance is trading higher by 1% at Rs 472, recovering nearly 4% from intra-day’s low on the BSE, after the company reported a 22% year-on-year (YoY) growth in net profit at Rs 419 crore for the quarter ended December 2015 (Q3FY16) on back of robut growth in net interest income (NII).
The housing finance company had profit of Rs 344 crore in the same quarter last year.
Its NII in the December quarter rose 36% to Rs 747 crore, compared to Rs 549 crore in October-December 2014. Its net interest margin (NIM) improved to 2.58% in the December quarter, from 2.2% in Q3FY15.
The stock hit a low of Rs 456 after opened at Rs 470 on the BSE. It touched a high of Rs 478 so far. The counter has seen huge trading volumes with a combined 1.38 million shares changed hands on the BSE and NSE till 11:05 a.m.
The housing finance company had profit of Rs 344 crore in the same quarter last year.
Its NII in the December quarter rose 36% to Rs 747 crore, compared to Rs 549 crore in October-December 2014. Its net interest margin (NIM) improved to 2.58% in the December quarter, from 2.2% in Q3FY15.
The stock hit a low of Rs 456 after opened at Rs 470 on the BSE. It touched a high of Rs 478 so far. The counter has seen huge trading volumes with a combined 1.38 million shares changed hands on the BSE and NSE till 11:05 a.m.