LIC Housing Finance Q1 net profit rises 18% to Rs 568 crore

LIC Housing Finance has reported 18.4% surge in its standalone net profit to Rs 567.94 crore for the first quarter ended June 30. The company's net profit was Rs 479.65 crore in the same quarter of 2017-18. The total income during April-June of this fiscal stood at Rs 4,050.95 crore, up from Rs 3,648.24 crore in the year-ago period, the company said in a regulatory filing. The main business of the company is to provide loans for purchase or construction of residential houses. Shares of LIC Housing closed 0.33 per cent down at Rs 571.50 apiece on BSE.