LIC Housing Finance
on Wednesday announced a 21 per cent increase in its first quarter net profit despite a dip in its net profit margin. Net profit of the company for June quarter was Rs 256.50 crore as compared to Rs 212.02 crore in the previous year.
The company's total income during the quarter rose 40 per cent to Rs 1,418 crore as against Rs1,015 crore in the corresponding quarter last year.
For the June quarter, its net interest margin dipped to 2.78 per cent as against 3.01 per cent for the quarter ended June 2010.
Total disbursements including loans to developers stood at Rs 3,545 cr for the first quarter of FY12 as against Rs 3,392 cr for the same period in the previous year.