LIC Housing Finance reports 7% rise in Q1 net profit

LIC Housing Finance has reported results for first quarter ended June 30, 2016.

The company has reported 6.73% rise in its net profit at Rs 407.84 crore for the quarter as compared to Rs 382.13 crore for the same quarter in the previous year. Total income of the company has increased by 13.97% at Rs 3379.86 crore for quarter under review as compared to Rs 2965.46 crore for the quarter ended June 30, 2015.

LIC Housing Finance is one of the largest Housing Finance company in India. The main objective of the Company is providing long term finance to individuals for purchase or construction of house or flat for residential purpose / repair and renovation of existing flat / houses.