Q4 Rs 693.58 crore profit for LIC Housing Finance
LIC Housing Finance on Saturday ...
LIC Housing Finance on Saturday reported 17 percent rise in its net profit for the fourth quarter (Q4) of 2018-19. According to the housing finance company, its net profit during the quarter under review rose to Rs 693.58 crore from Rs 594.34 crore in the corresponding quarter of the previous fiscal. The firm’s net interest income (NII) zoomed 21 percent to Rs 1,201 crore during the quarter from Rs 989 crore earned during the corresponding quarter of the previous year.
On a financial year basis, the bank reported that its net profit for the year ended March 31, 2019 rose 21 percent to Rs 2,430.97 crore from Rs 2,002.50 crore for the previous financial year. “The company has maintained its growth trajectory in FY2019 despite severe challenges in the financial sector. All financial parameters continued to show improvement,” said Vinay Sah, Managing Director and Chief Executive Officer (CEO) at LIC Housing Finance.