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LIC Housing Finance posts 16% fall in pre-tax profit at Rs 826.72 crore

Its net profit fell sharply, by 40 per cent, to Rs 421.43 crore from Rs 693.58 crore in Q4FY19.

The numbers don’t look better if lenders and insurance companies are excluded from the sample

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The business activity — disbursements — were impacted by a nationwide lockdown imposed in the second half of March to contain the spread of coronavirus.

Abhijit Lele Mumbai

2 min read Last Updated : Jun 20 2020 | 12:48 AM IST

LIC Housing Finance posted a 16 per cent fall in its pre-tax profit at Rs 826.72 crore in the fourth quarter as net interest income dropped. It had posted a PBT of Rs 986.24 crore in same quarter of previous financial year (Q4FY19).

LIC HFC stock closed almost flat at Rs 284.75 per share on the BSE.

Its net profit fell sharply, by 40 per cent, to Rs 421.43 crore from Rs 693.58 crore in Q4FY19. The firm’s NII for the reporting quarter fell 9 per cent to Rs 1,089 crore as against Rs 1,202 crore in Q4FY19. Net interest margin declined

Topics : Coronavirus Lockdown Life Insurance Corporation LIC Housing Finance LIC Housing Finance Q4 Q4 Results Q4 earnings housing finance companies pre-tax profit Non-performing assets BSE

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