InvestorQ : Is LIC Housing a stock worth buying after the recent correction in price and latest quarter results for Mar-20?
Khushi Patel made post

Is LIC Housing a stock worth buying after the recent correction in price and latest quarter results for Mar-20?

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Anjana Aiyar answered.
4 months ago
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LIC Housing Finance reported 39% fall in net profits at Rs.424 crore for the Mar-20 quarter. The profits were also sharply lower than the December quarter on a sequential basis. Total revenues for the Mar-20 quarter were actually about 5% higher at Rs.4904 crore. Net profits for the full year were flat at Rs.2404 crore for LIC Housing.

The core home loan business of LIC Housing got hit by the Coronavirus pandemic. The HFC took a hit on account of a lot of its borrowers opting for the EMI moratorium and the company confirmed that it would be able to assess the impact of the moratorium only after was withdrawn in the end of August. June and September quarters could be tougher.
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