The Hindu : Business : LIC Housing disbursements cross Rs. 4,100 cr.

Online edition of India's National Newspaper
Thursday, Jun 24, 2004

Business

Business

LIC Housing disbursements cross Rs. 4,100 cr.

By Our Special Correspondent

MUMBAI, JUNE 23. LIC Housing Finance has announced a dividend of 50 per cent for 2003-04. The company recorded a net profit of Rs. 167.47 crores, which is lower than previous year's Rs. 178.97 crores.

"The decline in net profit could be attributable to the fact that there was a significant component of one-time income in fiscal 2003 which was not available in fiscal 2004, as also on account of higher provisioning done this year," said A. K. Dasgupta, Chief Executive, LIC Housing Finance.

Under individual loans, the company sanctioned 92,400 loans for a total amount of Rs. 4,069 crores and disbursed 92,827 loans for a total amount of Rs. 3,668 crores. Total sanctions for the year inclusive of individual and project loans were Rs. 4,693 crores with a growth of 38 per cent and total disbursements were Rs. 4,104 crores, a growth of 37 per cent.

Total interest income for the year was Rs. 911 crores against Rs. 848 crores, a growth of 7.47 per cent. Interest expenses have declined to Rs. 610 crores from Rs. 659 crores. The housing finance company's total income was Rs. 985 crores against Rs. 1,013 crores.

Printer friendly page
Send this article to Friends by E-Mail

Business