MUMBAI : LIC Housing Finance on Friday reported a standalone net profit of ₹421.43 crore for the three months to March, down 39% from the same period last year, on account of lower net interest income (NII).The mortgage lender’s NII stood at ₹1,089 crore, down 9% on a year-on-year (y-o-y) basis.
Its net interest margin (NIM), a key indicator of profitability, for 12 months ended 31 March stood at 2.34% as against 2.38% in the same period last year.The company said its were restricted during the first lockdown up to 19 April, during which measures to work from home were put in place.
It said that it has been able to open almost all the branches as of now.“The first lockdown restricted disbursements during April 2020.