LIC Housing Finance’s net profit up 42.31% in Q1 FY24, Real Estate News, ET RealEstate
NEW DELHI: LIC Housing Finance has reported a growth of 42.31 per cent in its net consolidated profit during the quarter ended June 30, 2023. Its profit after tax stood at Rs 1,319.04 crore in Q1 FY24 as against Rs 926.89 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 6,759.13 crore, a growth of 27.47 per cent from Rs 5,302.50 crore it recorded in the similar quarter last year.
The board of directors appointed T. Adhikari, additional director, in the capacity of managing director & chief executive officer of the company and also a key managerial personnel of the company subject to a maximum period up to five years, with effect from August 3, 2023.
As on June 30, 2023, the company’s net worth stood at Rs 25,901.43 crore, debt-equity ratio was 9.54, total debts to total assets was 0.89, operating margin was 24.44% and net profit margin was 19.62%, gross non-performing assets (NPA) was 4.98% and net NPA was 2.99%.
