LIC Housing Finance Q4 net up 17%

LIC Housing Finance today reported 17% rise in net profit at Rs 370.02 crore for the fourth quarter ended March 31.

The company had posted a net profit of Rs 316.16 crore in the January-March quarter of 2012-13.

Total income of the housing finance major rose by 19% to Rs 2,478 crore from Rs 2,075 crore in the year-ago period, the company said in a statement.

The company proposed a dividend of 225%, or Rs 4.50, per share of face value Rs 2 each for 2013-14. This includes silver jubilee dividend of 25%.

For the financial year ended March, 2014, the company posted a 29% increase in net profit to Rs 1,317.19 crore from Rs 1,023.21 crore in the previous year, it said.

Total income during the fiscal rose to Rs 9,335 crore from Rs 7,659 crore in the previous financial year, an increase of 22%.

The Gross NPAs of the company increased marginally to 0.67% on March 31, 2014 as against 0.61% previous fiscal. Net NPAs were 0.39% as against 0.36%.