LIC Housing Finance Sees Marginal Net Profit Growth Amid Rising Income
LIC Housing Finance reported a slight 2% increase in standalone net profit for the September quarter, reaching Rs 1,354 crore. The mortgage company's total income rose to Rs 7,170 crore, and it achieved significant improvements in asset quality by reducing gross and net non-performing assets.
- Country:
- India
LIC Housing Finance has announced a modest increase in its net profit for the September quarter, with figures showing a 2% rise to Rs 1,354 crore compared to the same period last year.
The company's total income climbed to Rs 7,170 crore, up from Rs 6,932 crore a year ago, indicating robust growth despite economic pressures.
Asset quality saw positive changes, as gross NPAs dropped to 2.51% and net NPAs to 1.19%. Meanwhile, the liquidity coverage ratio decreased slightly, improving the financial stability of the firm.
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