Earnings: LIC Housing Finance Q3 profit rises 5.4%
LIC Housing Finance has registered a modest rise of 5.4 percent in its standalone net profit in the October-December quarter at Rs 344.35 crore.
New Delhi: LIC Housing Finance has registered a modest rise of 5.4 percent in its standalone net profit in the October-December quarter at Rs 344.35 crore.
The company had posted a net profit of Rs 326.59 crore in the corresponding quarter of the previous fiscal.
"Total income has increased from Rs 2,376.37 crore for the quarter ended December 31, 2013 to Rs 2,735.78 crore for the quarter ended December 31, 2014," it said in a filing to the BSE.
The revenue from operations increased to Rs 2,667.89 crore during October-December 2014-15, up from Rs 2311.96 crore a year ago.
Other operating income stood at Rs 32.36 crore from Rs 30.74 crore in the third quarter of 2013-14.
LIC Housing Finance's main business is to provide loans for purchase or construction of residential houses.
Shares of the company ended the day 1.89 percent lower at Rs 453.95 apiece on the BSE.
Federal Bank today reported 15 percent jump in net profit at Rs 265 crore for October-December period on the back of growth in retail, SME portfolio and improvement in other income.
Infosys, India's second-largest software exporter, raised its annual sales growth forecast for the second consecutive quarter as economic recovery prompted clients in Europe to spend more in the last quarter.