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NEW DELHI :
Stock of LIC Housing Finance Ltd (LICHFL) rallied nearly 12% in early commerce on Tuesday after the mortgage lender reported a 34% leap in its internet revenue for the primary quarter ended 30 June of fiscal yr 2020-21.
On the BSE, the LICHFL inventory surged 11.45% to Rs308.40 and on the NSE it rose 11.71% to Rs309.
LICHFL on Monday reported a 34% leap in its internet revenue at Rs817.48 crore for the June quarter. Its PAT (revenue after tax) stood at Rs610.68 crore within the June quarter of the earlier fiscal.
The whole mortgage portfolio of the corporate grew 6% at Rs2,09,817 crore within the June quarter of FY21 as in opposition to Rs1,97,768 crore a yr in the past.
“The rise in revenue is principally attributed to provisioning which was decrease within the quarter as in comparison with the final time (Q1 FY20). However, now we have totally offered for no matter is required,” LIC Housing Finance managing director and CEO Siddhartha Mohanty stated in a press release on Monday.
“With unlocking of actions, our enterprise picked up, particularly from the month of June, 2020. Though the financial actions are prone to take some extra time to get better, we’re witnessing an rising enterprise development month after month, and we’re assured of a rebound in Q2 itself,” he added.
At 12:48 pm, shares of LIC Housing Finance Ltd have been buying and selling at Rs301.25, up 8.87%, on the BSE; and at Rs301.15 , 8.88% greater, on the NSE.
The BSE Sensex index was buying and selling at 38,850.43, up 0.13%; and the Nifty 50 index at 11,470.65, 0.037% greater.
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