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Higher finance costs and employee expenses moderated the net profit growth of LIC Housing Finance in the fourth quarter ended March 31, 2015.
In the reporting period, the housing finance company reported a marginal increase in net profit at Rs 378 crore (Rs 370 crore in the year ago period).
In the January-March 2014 quarter, the company had reported a 17 per cent year-on-year growth in net profit.
In the financial year ended March 31, 2015, LIC Housing’s net profit nudged up 5 per cent at Rs 1,386 crore (Rs 1,317 crore).
The company’s board has recommended a dividend of Rs 5 per equity share of face value Rs 2 each.
In the quarter under review, the company’s revenue from operations was up 16 per cent to Rs 2,800 crore (Rs 2,407 crore). Other operating income was down 11 per cent at Rs 32 crore (Rs 36 crore).
Other income dipped 20 per cent to Rs 28 crore (Rs 35 crore).
Finance costs rose 15 per cent to Rs 2,150 crore (Rs 1,874 crore). Employee expenses jumped 38 per cent to Rs 36 crore (Rs 26 crore).
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