LIC Housing Finance, a mortgage lender, posted a Q3 2023 net profit of Rs 1,163 crore, marking a substantial surge from Rs 480 crore in the same quarter the previous year. The total income for the quarter reached Rs 6,792 crore, up from Rs 5,876 crore, as stated in the regulatory filing. Interest income also climbed to Rs 6,744 crore compared to Rs 5,839 crore in the prior year’s third quarter. The company made a provision of Rs 50.32 crore for Investment in Alternate Investment Funds in adherence to an RBI circular. Notably, the Capital Adequacy Ratio improved to 19.77% from 17.74% in December 2022.
LIC Housing Finance Records Robust Q3 Growth with Over Two-Fold Profit Increase
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