LIC Housing Finance Q3 profit rises 6%
Financial Express Mumbai|January 28, 2022
MORTGAGE LENDER LIC Housing Finance (LICHFL) on Thursday reported a 6% increase in profit after tax at ₹767.33 crore for the quarter ended December 2021, aided by higher collections and drop in provisions.

It had posted a profit after tax of 727.04 crore in the same period of the previous fiscal.

“The income levels were more or less maintained. Our collections were good during the three months of the quarter. Recovery also picked up across all the regions ... Even the provisions were less in the quarter because of the provisions we had made earlier," managing director and CEO Y Viswanatha Gowd said.

The lender reported better growth due to higher disbursements during the festive season. Gowd also said growth and asset quality metrics are expected to improve with the easing of the pandemic.

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