LIC Housing Finance rallies 11% after strong Q1 performance
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MUMBAI, Aug. 25 -- Shares of LIC Housing Finance (LICHF) surged 11.5% on Tuesday after it reported a 35.3% year-on-year rise in its June quarter consolidated net profit to Rs.824 crore.
At 0300pm, shares of LIC Housing Finance traded over 8% higher at Rs.299, while the benchmark Sensex was up 0.15% at 38855.39.
The company's profit before tax rose 21% year-on-year to Rs.1,017.67 crore. Total revenue from operations stood at Rs.5,011.50 crore, up 4% from the year-ago period.
Analysts at Motilal Oswal in a result note said, "LICHF's gross non-performing loans ratio was stable at 2.8%, driven by both retail and corporate delinquencies. However, the company did not make any large covid-19-related provisions this quarter. In the current pan...
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