LIC Housing Finance Revenue Up by 3.5%

Mortgage lender LIC Housing Finance reported a 33.86 per cent growth in standalone net profit at Rs 817.48 crore for the first quarter ended June 30, 2020 (Q1 FY21). The housing finance company had posted net profit of Rs 610.68 crore in the same quarter a year ago. Total income of the company increased to Rs 4,977.49 crore as compared to Rs 4,807.21 crore, registering a year-on-year growth of 3.5 per cent, LIC Housing Finance said in a filing to the Bombay Stock Exchange. LIC Housing Finance's net interest income stood at Rs 4,985.08 crore in Q1 FY21 as against Rs 4,784.45 crore reported in Q1 FY20. The main business of the group is to provide loans for purchase or construction of residential houses. All other activities of the company revolve around the main business and accordingly there are no separate reportable segments, it said in the exchange filing.