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LIC Housing Finance Q4 net rises 47%

LIC Housing Finance, a subsidiary of Life Insurance Corporation, on Thursday announced 47 per cent jump in net profit at Rs 314.77 crore for the fourth quarter ended March 31, 2011.

twitter-logo PTI   Mumbai     Last Updated: April 28, 2011  | 20:19 IST

LIC Housing Finance, a subsidiary of Life Insurance Corporation, on Thursday announced 47 per cent jump in net profit at Rs 314.77 crore for the fourth quarter ended March 31, 2011.

The company had a net profit of Rs 213.51 crore in the same quarter in the previous fiscal.

The total income rose by 44 per cent at Rs 1,392 crore against Rs 968 crore during the same period a year ago, LIC Housing Finance said in a statement.

At the same time, the net interest income increased by 41 per cent at Rs 420 crore compared to Rs 298 crore in the same quarter 2009-10.

The board has recommended a dividend of 175 per cent per share on the face value of Rs 2.

For the fiscal ended March 2011, net profit increased by 47 per cent at Rs 974.49 crore as compared to Rs 662.18 crore in the previous fiscal.

The company's total income was Rs 4,869 crore against Rs 3,469 crore, a rise of 40 per cent.

The Net Interest Margins (NIM) for the whole year stood at 3.08 per cent as against 2.70 per cent for the previous year.

The outstanding mortgage portfolio as on March 31, 2011 was Rs 51,090 crore as against Rs 38,081 crore on March 31, 2010, thus registering a growth of 34 per cent.


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