Amid weak sentiment, LIC HF Q2 soothes nerves by beating estimates

PAT up 12% to Rs 5.73 bn in the quarter; bad loans stable

LIC Housing Finance reported a net profit of Rs 5.7 billion for the quarter ended September 30, about 12 per cent higher than the same period a year before. Total income also rose 12 per cent to Rs 42 billion.  

These numbers exceeded the expectation and helped it offset a 13 per cent increase over the year in the cost of funds to Rs 31.4 billion in the quarter. These results, along with a healthy outlook, pushed the stock's price at the day's close to Rs 415.85 on the National Stock Exchange, up 2.6 per cent from Friday.

The loans portfolio grew