LIC Housing Finance net up by 43%

LIC Housing Finance Ltd has posted net profit at Rs 306 crore against Rs 213 crore in the corresponding year-ago period. Increase by 43% in the October-December quarter.

The main business of the company is to provide loans for purchase and reconstruction of residential houses. Total income of the company stood at Rs.1,592.54 crore, up by 17.58%, compared to Rs.1,354.42 crore a year ago, said in the statement.

However, the net interest income (NII) fell 5% y-o-y to Rs 326 crore due to slower loan disbursements to developers.

LIC disbursed approximately Rs 4,570 crore loans to customers as against Rs 4,215 crore, rise of more than 8%.

On Monday, the shares of the company closed at Rs 246.05 down by 5.60 points or 2.23%

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