LIC Housing Finance's Net Profit Falls

LIC Housing Finance on Friday reported a 39 per cent fall in its consolidated net profit to Rs 424.31 crore in the fourth quarter ended March 2020. The company's net profit during the corresponding quarter of 2018-19 had stood at Rs 696.91 crore. Sequentially also, there was a fall in net profit as compared with Rs 602.25 crore in the third quarter ended December 2019. Income during the March 2020 quarter, however, rose to Rs 4,903.54 crore as against Rs 4,667.77 crore a year ago, LIC Housing Finance said in a regulatory filing. For the full year 2019-20, the firm's net profit remained nearly flat at Rs 2,403.66 crore as against Rs 2,434.37 crore in 2018-19.