The Hindu Business Line : LIC Housing Finance Q1 net up 25%

Mumbai, July 17 LIC Housing Finance has reported a 25 per cent growth in Q1 net profit at Rs 46.7 crore, against Rs 37.46 crore in the corresponding period in the previous year.

A press release quoting Mr S.K. Mitter, Chief Executive, LIC Housing Finance, said: “The company has been able to maintain a healthy growth in profitability. It has also been able to maintain a healthy growth in interest income and net interest income.”

Total income was up 36 per cent at Rs 464 crore (Rs 341 crore) while total expenditure was higher by 34.5 per cent at Rs 400.33 crore (Rs 297.55 core). Interest income on housing loans rose 37 per cent to Rs 442 crore from Rs 322 crore in the previous year.

Net interest income increased by 59 per cent to Rs 104 crore, compared with Rs 66 crore in the year ago period.

The outstanding mortgage portfolio stands higher at Rs 18,185 crore for the quarter ended June 30, 2007, against Rs 15,393 crore in the previous year. The company recorded a growth of 16 per cent in loan sanctions at Rs 1,156 crore (Rs 993 crore) and a growth of 12 per cent in loan disbursements at Rs 1,222 crore (Rs 1,080 crore).

Related Stories:
LIC Housing net down 25 pc

More Stories on : Housing Finance | Financial Performance

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Tata Tea consolidated Q1 net plummets

Indo Rama Q1 net up 4%

Zee Q1 profit at Rs 64 cr

Dish TV Q1 loss at Rs 89.7 cr

NDTV posts Rs 2.15-cr loss in Q1

Sonata Q1 net down 11%

Zensar Tech net down 9%

Tata Coffee Q1 net dips 48%

LIC Housing Finance Q1 net up 25%