Financial Daily from THE HINDU group of publications
Thursday, Oct 28, 2004
Financial Daily from THE HINDU group of publications Thursday, Oct 28, 2004 |
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Corporate Results
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Housing Finance Money & Banking - Financial Performance LIC Housing Fin Q2 net up 27 pc Our Bureau
Mumbai , Oct.27 LIC Housing Finance Ltd has reported a 27 per cent increase in net profit for the second quarter of the current fiscal. Net profit was Rs 45.68 crore, as against Rs 35.98 crore reported for the corresponding quarter of the previous year. "During the current quarter we have contained our cost of funds,thereby ensuring a steady growth in profitability," said Mr A.K. Dasgupta, Chief Executive Officer at the company. Income from operations stood at Rs 249 crore (Rs. 237.97 crore) while other income amounted to Rs 7.72 crore (Rs. 10.78 crore). Total income, at Rs 256.92 crore, was up 3.3 per cent. Interest expenses amounted to Rs 164.37 crore (Rs 162.35 crore); and other expenses amounted to Rs 35.54 crore (Rs. 39.21 crore). Gross profit (after interest and before depreciation and taxation) amounted to Rs 57 crore (Rs 47.19 crore).
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