Financial Daily from THE HINDU group of publications
Saturday, Jan 28, 2006
Financial Daily from THE HINDU group of publications Saturday, Jan 28, 2006 |
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Money & Banking
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Financial Performance Corporate Results - Housing Finance LIC Housing Q3 net rises 40% Our Bureau
Mumbai , Jan. 27 LIC Housing Finance Ltd's net profit for the third quarter ended December 31, 2005 has grown by 40 per cent, to Rs 58.65 crore, from Rs 42 crore for the corresponding quarter of the previous fiscal. Total income for the quarter rose by 19 per cent, to Rs 318.06 crore (Rs 268.42 crore). Total expenditure amounted to Rs 241 crore (Rs 206 crore). Profit before tax amounted to Rs 76.91 crore, growing 25 per cent year-on-year. Individual loan disbursals during the quarter were higher by 10 per cent, at Rs 1,215 crore. As on December 31, 2005, the outstanding mortgage portfolio was Rs 14,194 crore, 23 per cent higher than a year-ago (Rs 11,539 crore). The gross NPA, under the new 90-day NPA recognition norm, stood at 4.69 per cent and net NPA at 3.1 per cent as on December 31, 2005. Business continued to be buoyant and would likely improve further in the coming months, said Mr S.K. Mitter Director and Chief Executive Officer at LIC Housing Finance. Overall, NPAs may also come down, he said.
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