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"T Adhikari has been appointed as Chief Operating Officer of the company by the Board of Directors vide resolution dated 22/06/2023 based on the recommendation of the Nomination and Remuneration Committee," LIC Housing Finance (LICHFL) said in a statement on 22 June 2023.
Tribhuwan Adhikari, is a direct recruit of the 17th Batch joined LIC of India in September 1989. During his career in LIC, spanning more than 3 decades he has worked all over the country and has been posted in west Bengal, Bihar, Uttar Pradesh, Uttrakhand, &.Maharashtra. He has mostly worked in Marketing and has held important positions as Branch Manager In-charge of various Branches, Chief Manager in Branch 925 of Mumbai Division-4, Marketing Manager in two Divisions viz Nanded in Maharashtra and Dehradun in Uttrakhand.
LICHFL is one of the largest housing finance companies in India. It has one of the widest networks of offices across the country and representative offices in Dubai. LICHFL is promoted by Life Insurance Corporation of India and it held 45.24% stake in the company as on 31 March 2023.
LICHFL reported 5.51% rise in net profit to Rs 1,180.28 crore on a 21.05% increase in revenue from operations to Rs 6,415.11 crore in Q4 FY23 over Q4 FY22. Net interest income (NII) during the quarter improved by 22.11% to Rs 1,990.30 crore from Rs 1,629.87 crore recorded in the same period last year. Net interest margin (NIM) was 2.93% in Q4 FY23 as compared with 2.64% in Q4 FY22.
Shares of LICHFL fell 0.76% to Rs 402.40 on Tuesday, 22 June 2023.
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