Should you buy, sell or hold LIC Housing Finance stock after NBFC's Q3 results?
LIC Housing Finance Q3 Results: The mortgage lender reported a 37 per cent year-on-year plunge in net profit to Rs 480.3 crore for the quarter ended December 2022.
LIC Housing Finance shares gave up initial gains amid volatile trade on Tuesday, a day after the housing finance company reported a quarterly net profit that fell way short of analysts' estimates. The LIC Housing stock fell as much as 4.8 per cent to Rs 369.5 apiece on BSE, having reversed direction after rising to as high as Rs 394.6 in early deals.
LIC Housing Q3 Results
After market hours on Monday, the mortgage lender reported a 37 per cent year-on-year plunge in net profit to Rs 480.3 crore for the quarter ended December 2022 owing to additional provisions for expected credit loss despite improvement in asset quality.
The company's net interest income incrased 14.4 per cent on a year-on-year basis to Rs 1,605.9 crore, according to a regulatory filing.
According to Zee Business research, LIC Housing Finance's quarterly net profit was estimated at Rs 775 crore and NII at Rs 1,525 crore.
What brokerages recommend on LIC Housing Finance after the NBFC's Q3 results
|Morgan Stanley||Underweight||Rs 320|
LIC Housing share price history
LIC Housing shares have remained largely unchanged in the past one year, a period in which the Sensex index has risen about five per cent.
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