LIC Housing Finance Q1 Results: Profit Drops 2% To Rs 1,300 Crore
Despite the profit decline, the company's total income increased to Rs 6,784 crore.
LIC Housing Finance Ltd. reported a 2% decrease in profit, totaling Rs 1,300 crore for the first quarter of fiscal 2025, as compared to Rs 1,324 crore in the same period last year.
Despite the profit decline, the company's total income increased to Rs 6,784 crore from Rs 6,747 crore in the previous year, according to an exchange filing on Friday.
Interest income also rose to Rs 6,739 crore, up from Rs 6,703 crore in the first quarter of the previous fiscal, according to a regulatory filing.
During the quarter, total expenses rose to Rs 5,155 crore from Rs 5,098 crore a year ago.
On the asset quality front, LIC Housing Finance's gross non-performing assets improved to 3.29% from 4.98% at the end of June 2023.
Its net NPA, too, declined to 1.68% from 2.99% in June 2023.
(With inputs from PTI)
