LIC Housing Finance slumped 4.86% to Rs 436.45 after the housing finance company reported dull Q3 numbers during market hours today, 30 January 2020.
LIC Housing Finance's consolidated net profit fell 0.83% to Rs 602.25 crore in Q3 December 2019 as against Rs 607.29 crore reported in Q3 December 2018. Total revenue from operations jumped 12.09% year-on year (YoY) to Rs 5005.36 crore in Q3 December 2019.Profit before tax (PBT) for Q3 December 2019 (Q3 FY20) stood at Rs 751.36 crore, down by 13.8% against Rs 871.57 crore in Q3 December 2018 (Q3 FY19). Tax expenses fell 43.57% to Rs 149.14 crore in Q3 FY20 from Rs 264.28 crore reported in Q3 FY19.
The stock trades above its 100 days simple moving average placed at 421.3 while below its 50 days simple moving average placed at 444.23. These levels will act as support and resistance in near term.
LIC Housing Finance is one of the largest housing finance companies in India.
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