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Business News/ Companies / LIC Housing Finance Q4 net profit rises 2.2% to Rs378 crore
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LIC Housing Finance Q4 net profit rises 2.2% to Rs378 crore

The firm has recommended a dividend of `5 per equity share of `2 each subject to approval

Total income rose to Rs10,798.65 crore in the quarter, from Rs9,334.66 crore in the year-ago period. Premium
Total income rose to Rs10,798.65 crore in the quarter, from Rs9,334.66 crore in the year-ago period.

New Delhi: LIC Housing Finance on Saturday posted a marginal 2.2% increase in net profit of 378.18 crore for the quarter ending March and decided to pay a dividend of 5 per equity share of 2.

The housing finance firm had posted a net profit of 370.02 crore in the year-ago period.

Total income rose to 10,798.65 crore in the quarter, from 9,334.66 crore in the year-ago period, it said.

“After providing for the deferred tax liability of 30.53 crore, the net profit for the quarter stood at 378.18 crore," the company said in a statement. “LIC Housing Finance Ltd has recommended a dividend of 5 per equity share of 2 each (250%) subject to approval of the members of the company at the forthcoming annual general meeting," it said in a BSE filling.

Total income has increased to 2,860.59 crore for the quarter under review, from 2,477.94 crore a year ago. For the fiscal year ended March 2015, the company’s net profit rose to 1,386.18 crore, from 1,317.18 crore in the previous fiscal.

“We are encouraged by the strong growth in disbursements, which was consistent throughout the year and improving in the fourth quarter. Significant improvement in asset quality is another area of success during the year. We are confident of a very good FY16," managing director and chief executive officer Sunita Sharma said.

Net interest margins in the March quarter stood at 2.47% compared with 2.40% in the corresponding period last year. Net interest income grew 22% to 650 crore from 533 crore in the year-ago period. Total disbursements in the quarter grew 23% to 9,938 crore and individual loan disbursements rose 24% to 9,550 crore. PTI

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Published: 18 Apr 2015, 10:28 PM IST
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