LIC Housing Finance posted a 16 per cent fall in its pre-tax profit at Rs 826.72 crore in the fourth quarter as net interest income dropped. It had posted a PBT of Rs 986.24 crore in same quarter of previous financial year (Q4FY19).
LIC HFC stock closed almost flat at Rs 284.75 per share on the BSE.
Its net profit fell sharply, by 40 per cent, to Rs 421.43 crore from Rs 693.58 crore in Q4FY19. The firm’s NII for the reporting quarter fell 9 per cent to Rs 1,089 crore as against Rs 1,202 crore in Q4FY19. Net interest margin declined