India's LIC Housing Finance posts fall in Q1 profit on higher costs
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 02 2024
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Source: Reuters
Profit Decline: LIC Housing Finance reported a nearly 2% decline in first-quarter profit to 13 billion rupees, impacted by higher borrowing costs despite steady home loan demand.
Future Outlook: The company anticipates that a gradual decrease in interest rates will boost demand in the housing sector, with total loan disbursements increasing by 19% in the same period.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
