LIC Housing Finance Q2 net profit dips 1.13% to Rs 489 cr

Total revenue up 6.5% at Rs 3,716.6 cr

LIC Housing Finance on Monday reported a marginal decline of 1.13 per cent in its net profit at Rs 489.12 crore for second quarter of the current fiscal.

Its net profit in the corresponding July-September quarter of the previous fiscal was at Rs 494.76 crore.

Total revenue was up 6.5 per cent to Rs 3,716.63 crore during the quarter from Rs 3,489.91 crore in the year-ago period, it said in a regulatory filing.

In revenue break-up, LIC Housing Finance's income from operations was up marginally at Rs 3,687.42 crore during the quarter from Rs 3,456.45 crore a year ago. While income from other sources fell to Rs 29.21 crore as against Rs 33.46 crore a year earlier.

The company's main business is to provide loans for purchase or construction of residential houses.

Stock of the company closed 0.79 per cent up at Rs 619.30 apiece on BSE today.