LIC Housing Finance net profit dips 23% in Q3
By Joseph Samson
Feb 15, 2013
Print    Email    RSS   

The home loan provider, LIC Housing Finance posted drop of 23 per cent to Rs 236.24 crore in the third quarter net profit of the current financial year as compared to Rs 305.63 per cent for the corresponding period of the previous year.

The dip in the net profit was due to higher provisions to cover loan losses and increased finance costs.

In the third quarter, LIC Housing Finanace-a housing finance arm of Life Insurance Corporation of India set aside Rs 31.56 crore to cover potential loan losses.

Finance costs of the company increased by 27 per cent to Rs 1,535 crore as compared to Rs 1,213 crore for a year ago period.

Total income from operations for LIC housing finance company grew 23 per cent to Rs 1,935 crore. Total loan disbursement during the quarter was also up by 27 per cent to Rs 6,005 crore.

LIC housing Finance is also on a recruitment drive. It will hire assistants for its offices across the country.


(Comments Posted : 1) Post Your Comments
1. LIC Housing Finance is best option for Home Loan and is life savior for us as got loan sanctioned from it on immediate basis.
Aman Jawanda (Posted: Feb 18, 2013)
Show All Comments
 Select a product:

 Select a product:

Manage your loans, avoid recovery agents
Credit score from CIBIL: will it really...
Carnival of Indian Personal Finance Blogs #4
Know About Different Types of Home Loans...
7 most common Home Loan problems faced by...

PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive