GIC Housing Finance hit an upper circuit of 20% at Rs 181.85 after the housing finance company recorded a 201.7% jump in net profit to Rs 79.70 crore in Q4 FY21 from Rs 26.42 crore in Q4 FY20.
The housing finance company reported a 3.1% decline in total income to Rs 307.22 crore in Q4 FY21 as against Rs 317.08 crore in Q4 FY20.Profit before tax soared 166.8% to Rs 114.49 crore in Q4 FY21 from Rs 42.92 crore in Q4 FY20.
The company posted a 131.5% rise in net profit to Rs 105.57 crore in the year ended March 2021 (FY21) from Rs 45.61 crore posted in the year ended March 2020 (FY20). Total income fell 1.2% to Rs 1240.33 crore in FY21 over FY20.
Shares of GIC Housing Finance hit a 52-week high of Rs 181.85 in intraday today. The stock has risen 123% from its 52-week low of Rs 81.50 hit on 30 June 2020.
GIC Housing Finance is engaged in the housing finance business. The company's primary business is granting housing loans to individuals and to persons/entities engaged in construction of houses or flats for residential purposes.
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