LIC Housing Finance said in a regulatory filing that total revenue rose to Rs 6,937 crore in the quarter under review as against Rs 6,415 crore in the year-ago period.
 "LIC Housing Finance Q4 results: Net profit fell by 7.5% to Rs 1,091 crore")
press trust of india New Delhi
Mortgage lender LIC Housing Finance on Wednesday reported a 7.5 per cent decline in profit to Rs 1,091 crore for the fourth quarter ended March 2024.
The LIC-promoted housing finance company had reported a profit of Rs 1,180 crore in the year-ago period.
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LIC Housing Finance said in a regulatory filing that total revenue rose to Rs 6,937 crore in the quarter under review as against Rs 6,415 crore in the year-ago period.
The company’s interest income increased to Rs 6,888 million from Rs 6,378 million in the fourth quarter last year.
The company announced that during the quarter ended March 31, 2024, it canceled provisions of Rs 3,156 crore on investments in alternative investment funds (AIFs) as per the RBI circular dated March 27, 2024.
In terms of asset quality, LIC Housing Finance has improved its gross non-performing assets (NPAs) to 3.31% from 4.41% as at end-March 2023.
The company’s net NPAs also declined from 2.5% to 1.43% compared to March 2023.
For the financial year ended March 2024, the housing finance company posted a 65 per cent increase in profit to Rs 4,765 crore as against Rs 2,891 crore in the previous financial year.
The board has recommended a dividend of Rs 9 (or 450 per cent) of face value of Rs 2 each for the financial year 2023-2024.
