LIC Housing Finance's CEO and MD, Tribhuwan Adhikari, has explained the reasons behind an 8% profit decline despite increased revenue. According to Adhikari, the Profit Before Tax (PBT) is slightly higher than last year, but the Profit After Tax (PAT) fell due to expenses booked in the fourth quarter. The company faced an additional tax expense of ₹127 crore related to deferred tax liabilities from previous years. Additionally, provisioning of ₹32 crore for employee salaries and a slight change in calculating employee gratuity added an extra expense of ₹22 crore. LIC Housing Finance also set aside ₹100 crore for expected credit losses to meet board guidelines, resulting in a 8% YoY decrease in profit. Watch this excerpt for more details.