LIC Housing Finance plunges 13% on disappointing September quarter results

LIC Housing Finance's net interest income (NII) declined by 0.8 per cent to Rs 1,163 crore in the reporting quarter from Rs 1,173 crore a year ago.

Shares of LIC Housing Finance plunged 13 per cent to Rs 349.10 on the BSE in Wednesday’s intra-day trade on the back of heavy volumes after the company reported a disappointing set of numbers for September quarter (Q2FY23).

At 09:32 AM, the stock traded 11 per cent lower at Rs 356.20, as compared to 0.19 per cent decline in the S&P BSE Sensex. The average trading volumes at the counter jumped over five-fold today. A combined 10.2 million shares changed hands on the NSE and BSE.

LIC Housing Finance’s net interest income (NII) declined by 0.8 per cent