LIC Housing Finance dips 4% on profit booking post Q4 results

Provisions jumped sharply to Rs 977 crore in the quarter under review against Rs 181 crore (QoQ)

Shares of LIC Housing Finance slid 4 per cent to Rs 501 on the BSE in intra-day trade on Wednesday as investors booked profit after the company reported a good set of numbers for the March quarter (Q4FY21) on the operating and business growth front. However, a steep rise in provisions dented profitability. The board approved a dividend at 425 per cent i.e. Rs 8.50 per equity share of Rs 2 each for the financial year 2020-2021.

With today’s decline, the stock has corrected 8 per cent from its 52-week high level of Rs 542, touched on Friday (June