Understanding LIC Housing Finance’s Financial Performance in Q1
As a crypto enthusiast, staying informed about the financial performance of companies is crucial. Here’s an analysis of LIC Housing Finance’s financial results for the first quarter of the year:
Details of the Financial Performance
– LIC Housing Finance reported a 7.5% year-on-year fall in net profit, amounting to Rs 1,091 crore for the March quarter.
– The gross profit for the quarter slightly increased to Rs 1,476 crore.
– The total income of the company witnessed an 8% growth, reaching Rs 6,937 crore, while total expenses rose by about 10% to Rs 5,461 crore.
Dividend Declaration and Shareholding Information
– The company’s board recommended a 450% dividend for the financial year 2024.
– Shareholders are proposed to receive Rs 9 per equity share of Rs 2 each, pending their approval.
– Life Insurance Corporation of India holds a 45.25% stake in LIC Housing Finance.
Share Price Movement and Market Performance
– The share price of LIC Housing Finance declined by 0.5% to Rs 630.25 on the BSE.
– The Sensex witnessed a decrease of 0.17% or 130.65 points, closing at 72,968 on the same day.
– The company released its quarterly financial results after the market hours.
Hot Take: What Does This Mean for You?
Considering LIC Housing Finance’s financial performance, it’s essential for crypto investors like you to monitor market movements and company updates closely. Stay informed to make well-informed investment decisions in the ever-evolving financial landscape.
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