LIC Housing Finance on Wednesday reported a 7.5% year-on-year fall in net profit to Rs 1,091 crore for the March quarter against Rs 1,180 crore in the year-ago period.
Its gross profit for the quarter stood a tad higher at Rs 1,476 crore against Rs 1,445 crore.
The lender\’s total income was 8% higher at Rs 6,937 crore against Rs 6,415 crore while total expenses rose about 10% at Rs 5,461 crore against Rs 4,970 crore.
The company\’s board recommended a 450% dividend for FY24. In other words, shareholders would get Rs 9 per equity share of Rs 2 each, subject to their approval.
Its promoter Life Insurance Corporation of India holds 45.25% in the company.
Its share price fell 0.5% to Rs 630.25 on the BSE while the Sensex was down by 0.17% or 130.65 points to 72,968 on Wednesday. The company announced its quarterly numbers after the market hours.
