LIC Housing Finance net profit down 1

LIC Housing Finance Ltd on Monday reported a 1.13 per cent decrease in its net profit at Rs 489.12 crore for the quarter ended September 30, 2017 as compared to Rs 494.76 crore in the year-ago period.

Its revenue from operations, in the quarter under review, was at Rs 3,687.41 crore, up by 6.68 per cent from Rs 3,456.45 crore in the year ago period.

The company, which has a main business of providing loans for purchase or construction of residential houses, reported its total expenses during the quarter stood at Rs 2,968.56 crore, up by 8.7 per cent from Rs 2,729.26 crore in the corresponding period last year.

Shares of the company, on Monday, closed at Rs 619.30, up by 0.79 per cent from the previous close on the BSE.

Rohit Kumar founded Vimocafe in 2016. He covers Entertainment news from the Hindi, Tamil, Telugu and Kannada Film industries.