LIC Housing Finance Q2: Profit rises 11% YoY to ₹1,328 crore | Stock Market News
Source: Live Mint
LIC Housing Finance Q2: LIC Housing Finance on Monday, October 28, reported an 11.25 per cent year-on-year (YoY) rise in consolidated net profit to ₹1,327.71 crore for the September quarter of the current financial year (Q2FY25). For the same quarter last year, the company earned a profit of ₹1,193.48 crore.
Total revenue from operations for the quarter stood at ₹6,937.72 crore, up 2.5 per cent compared to ₹6,765.44 crore in the corresponding quarter of the last financial year. Healthy interest income boosted the company’s revenue. Interest income during the quarter stood at ₹6,859.96 crore against ₹6,712.63 crore in the same quarter last year.
The net interest income (NII)—the difference between interest earned on loans and paid on deposit—dropped 6 per cent to ₹1,974 crore against ₹2,107 crore in the year-ago period.
Total expenses for the quarter declined slightly to ₹5,274.61 crore from ₹5,282.83 crore year-on-year.
Pre-provision operating profit (PPOP) declined 8.3 per cent YoY to ₹1,742 crore from ₹1,899 crore in the same quarter last year.
On a standalone basis, the company’s profit after tax stood at ₹1,328.89 crore in Q2FY25, rising almost 12 per cent compared to ₹1,188.05 crore in Q2FY24. Total revenue from operations came at ₹6,925.81 crore against ₹6,752.83 crore year-on-year.
LIC Housing Finance stock has witnessed healthy gains over the last one year, rising about 41 per cent. The stock hit its 52-week high of ₹827 on July 16 this year and a 52-week low of ₹435 on October 30 last year.
Shares of LIC Housing Finance closed 3.39 per cent higher at ₹618.45 on BSE on Monday. Stock market benchmarks, the Sensex and the Nifty 50, snapped their five-day losing run to close higher.
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