LIC Housing Fin Q4 net down 5.33% at Rs 398.9 cr on impairment spike

To raise equity capital through prefential issue to LIC

LIC Housing Finance Ltd's net profit fell by 5.33 per cent to Rs 398.9 crore in the fourth quarter ended March 2021 (Q4FY21) on a sharp rise in impairment on the financial instruments.

It had posted a net profit of Rs 421.43 crore in the quarter ended March 2020 (Q4FY21).

For the full financial year FY21, the net profit rose 13.8 per cent to Rs 2,734.3 crore from Rs 2,401.8 crore in FY20.

The Board of Directors has recommended a dividend of 425 per cent for the financial year, LIC HFC said in a statement.

Its stock closed almost half