LIC Housing Finance share price jumped over 13 percent in the morning session on January 28, a day after the company declared its December quarter results.
The mortgage lender reported a 6 percent increase in profit after tax at Rs 767.33 crore for the quarter ended December 2021, aided by higher collections and drop in provisions. It had reported a profit after tax of Rs 727.04 crore in the same period of the previous fiscal.
"The income levels were more or less maintained. Our collections were good during the three months of the quarter. Recovery also picked up across all the regions.
"Even the provisions were less in the quarter because of the provisions we had made earlier," the company's Managing Director and CEO Y Viswanatha Gowd said.