Business Daily from THE HINDU group of publications
Saturday, Apr 26, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, Apr 26, 2008 ePaper | Mobile/PDA Version | Audio |
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Money & Banking
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Financial Performance Corporate Results - Housing Finance LIC Housing Finance Q4 net up 32% on improved margins 
Our Bureau Mumbai, April 25 LIC Housing Finance Ltd has reported a 32 per cent increase in its net profit for the quarter ended March 31, as margins improved. Net profit for the quarter amounted to Rs 118.10 crore against Rs 89.14 crore in the corresponding year-ago quarter. Total income increased to Rs 629.25 crore from Rs 451.20 crore. For the year ended March 31, the company’s net profit jumped 38.7 per cent to Rs 387.19 crore from Rs 279.14 crore the previous year. Total income amounted to Rs 2,164.92 crore, against Rs 1,575.56 crore. The net interest margin for the year ended March 31 increased to 2.85 per cent from the previous year’s 2.45 per cent. The net NPA of the company stood at 0.64 per cent as on March 31 against 1.26 per cent a year ago. The company sanctioned Rs 8,618 crore and disbursed Rs 7,071 crore for the year ended March 31 which showed a growth of 41 per cent and 38 per cent respectively. “A strong disbursal and loan book growth in excess of industry averages, margin improvement and significant reduction in NPAs have placed the company on a very sound footing for it to launch itself into the next level of growth and performance,” said the LIC Housing Finance, Director & Chief Executive, Mr S.K.Mitter. The board of directors has recommended a final dividend of Rs 10 per equity share (of Rs 10 each) for the year. On Friday, shares of LIC Housing Finance closed at Rs 320.25, up by 2.4 per cent on the BSE. More Stories on : Financial Performance | Housing Finance
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