LIC Housing Finance profit falls by 11 percent
July 24th, 2012 - 6:13 pm ICT by IANSMumbai, July 24 (IANS) LIC Housing Finance Tuesday said its profit fell by 11.32 percent to Rs.227.74 crore in the April-June 2012 quarter as compared to Rs.256.50 crore in the corresponding period of last year.
However, total income of LIC Housing Finance, a subsidiary of the government-run Life Insurance Corporation of India (LIC), increased to Rs.1,767.30 crore for the quarter ended June 30, 2012 as compared to Rs.1,418.18 crore during the corresponding quarter of previous year.
Share price of LIC Housing Finance closed 1.09 percent higher at Rs.251.05 at the Bombay Stock Exchange after slumping to a low of Rs.241 in the intra-day.
During the quarter under review, the company sanctioned loans of Rs.4,900 crore to individuals and Rs.410 crore to builders.
LIC Housing Finance disbursed nearly Rs.4,500 crore housing loans to individuals and Rs.320 crore to developers in the first quarter of the current financial year.
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Tags: bombay stock exchange, crore, developers, first quarter, housing loans, insurance, lic housing finance, life insurance corporation, life insurance corporation of india, previous year, quarter ended june, rs 1, share price, subsidiary