LIC Housing Finance jumped 9.04% to Rs 310.70 after the housing finance company posted a 35% jump in consolidated net profit to Rs 824.08 crore in Q1 June 2020 from Rs 609 crore in Q1 June 2019.
Consolidated total income for Q1 June 2020 stood at Rs 4,986 crore, 3.5% higher than Rs 4,816 crore in Q1 June 2019. Profit before tax came at Rs 1021.77 crore in Q1 June 2020, 21% higher than Rs 844.59 crore reported in Q1 June 2019. Total tax expenses declined 16% to Rs 197.6 crore in Q1 June 2020 over Q1 June 2019. The result was announced after market hours yesterday, 24 August 2020.LIC Housing Finance is one of the largest housing finance companies in India. As of 30 June 2020, Life Insurance Corporation of India held 40.31% stake in the housing financer.
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