LIC Housing Q4 net up 18%

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LIC Housing Finance posted an 18 per cent rise in net profit at Rs 529.19 crore for the fourth quarter ended March 2017, against Rs 448 crore in Q4 of 2015-16. Its net interest income (NII) grew by 27 per cent to Rs 1,040 cr in Q4. Net interest margins for Q4 FY17 stood at 2.97 per cent against 2.71 per cent for Q4 FY16.

 

Net profit from 2016-17 rose 16 per cent to Rs 1,931 crore from Rs 1,660 crore in 2015-16. Net interest income rose 24 per cent to Rs 3,645 crore in FY17. Net interest margin for the full year was 2.70 per cent, against 2.52 per cent for FY 2016.

 

The board of directors have recommended dividend of 310 per cent per cent for 2016-17.

 

Vinay Sah, Managing Director & CEO, said the company recorded healthy growth in loan disbursements. Total disbursements grew 15 per cent to Rs 15,192 cr. Individual loan disbursements were up 11 per cent at Rs 13,960 cr. The loans to developers almost doubled to Rs 1,232 crore in January-March 2016 from Rs 640 crore in year-ago period.


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