Financial Daily from THE HINDU group of publications
Thursday, Jul 25, 2002
Financial Daily from THE HINDU group of publications Thursday, Jul 25, 2002 |
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Money & Banking
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Housing Finance Corporate Results - Housing Finance LIC Housing Q1 net up at Rs 34 cr Our Bureau
MUMBAI, July 24 LIC Housing Finance Ltd has reported a net profit of Rs 33.59 crore for the first quarter ended June 30, 2002, as against Rs 25.51 crore for the corresponding period in the previous year. Income from operations rose to Rs 218.91 crore for the first quarter from Rs 195.45 crore. The individual loans amount sanctioned for the first quarter was Rs 517.24 crore and disbursed was Rs 469.85 crore. Interest expenses rose marginally to Rs 155.73 crore in the first quarter of 2002 from Rs 148.14 crore. Other expenses increased slightly to Rs 18.66 crore (Rs 12.19 crore). Other expenses include provisions for contingencies of Rs 7 crore for the quarter ended June 30, 2002 (Rs 3.5 crore). The company plans to sanction individual loans for Rs 2,700 crore and disburse loans for Rs 2,500 crore by the March 2003.
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