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Our Bureau

Mumbai , Jan. 31

LIC Housing Finance Ltd has reported a 7 per cent decline in net profit for the third quarter ended December 31, 2004, despite a 24 per cent increase in profit before tax for the same period.

Net profit for the quarter amounted to Rs 42 crore, as against Rs 45.23 crore in the corresponding year-ago quarter. This is due to deferred tax items, which added Rs 10.94 crore to the year-ago financials, said the company.

Profit before tax amounted to Rs 61.68 crore, (Rs 49.79 crore). Income from operations amounted to Rs 268.42 crore, (Rs 252.83 crore); other income was higher, at Rs 7.36 crore (Rs 2.9 crore).

Gross profit amounted to Rs 62.56 crore, (Rs 50.38 crore).

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