The Board of Directors of LIC Housing Finance Ltd announced its unaudited results for the fourth quarter ended March 31, 2020 following its approval by the Board of Directors in a meeting held in Mumbai on Saturday.
The results are in accordance with the Indian Accounting Standards ie IndAS notifications issued by the Ministry of Corporate Affairs and National Housing Bank in April 2018.
Notably, there has been severe social and economic impact of COVID-19 pandemic across the world.
The situation continues to be uncertain and therefore its impact on economy, at this point in time may not be fully ascertained.
The economic recovery in the year 2020-21 will depend on various factors including the duration of lockdown and restrictions on normal activities.
The Company’s operations were restricted during the first lockdown from March 24 to April 19, during which measures to ‘Work from Home’ were efficiently put in place.
The Company has been able to open almost all the branches as of now.