LIC Housing Finance shares surge on Q1 numbers

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LIC Housing Finance Ltd’s shares went up by 9 per cent after profit increased 42 per cent to Rs 1,319 crore in the quarter ended June 30, 2023, compared to Rs 926 crore in the corresponding quarter last year.

Revenues increased 27 per cent to Rs 6,759 crore, compared to Rs 5,302 crore last year. Sequentially, profits were 10 per cent higher, compared to Rs 1,190 crore in the previous quarter.

The shares went up by 9 per cent at Rs 429 at 01.29 pm on BSE.  At 2:42 pm, the shares were at Rs 431.3, up 9.49 per cent.