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HomeUncategorizedLIC Housing Finance’s net profit rises 17pc in March quarter

LIC Housing Finance’s net profit rises 17pc in March quarter

Mortgage lender LIC Housing Finance Ltd on Monday posted a 17 per cent increase in net profit for the quarter ended 31 March at Rs. 370.02 crore, compared with Rs. 316.16 crore in the year-ago period.

Total income increased 18.91 per cent to Rs. 2,443.31 crore from Rs. 2,054.74 crore in the year-ago period.

Gross non-performing assets (NPAs) rose to 0.67 per cent of total loans from 0.61 per cent in the year-ago period, while net NPAs rose to 0.39 per cent from 0.36 per cent.

LIC Housing Finance’s outstanding mortgage portfolio rose to Rs. 91,341 crore, up 17 per cent from Rs. 77,813 crore in the year-ago period.

LIC Housing Finance closed 1.37 per cent higher at Rs. 273.15 apiece, while India’s benchmark S&P BSE Sensex gained 0.60 per cent to 22,764.83 points.

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