LIC Housing Finance today posted a marginal 2.2 per cent increase in net profit to Rs 378.18 crore for the quarter ending March and decided to pay a dividend of Rs 5 per cent on equity share of Rs 2.
The housing finance firm had posted a net profit of Rs 370.02 crore in the same period of 2013-14.
"After providing for the Deferred Tax Liability of Rs 30.53 crore, the net profit for the quarter stood at Rs 378.18 crore," the company statement said.
"LIC Housing Finance Ltd has recommended a dividend of Rs 5 per equity share of Rs 2 each (250 per cent) subject to approval of the members of the company at the forthcoming Annual General Meeting," it said in a BSE filling.
Total income has increased to Rs 2,860.59 crore for the quarter under review, from Rs 2,477.94 crore a year ago.
For 2014-15, the company's net profit crept up to Rs 1,386.18 crore, from Rs 1,317.18 crore in the previous fiscal.
Total income (2014-15) too went up to Rs 10,798.65 crore in the January-March quarter, from Rs 9,334.66 crore in the year-ago period, it said.
LIC Housing Finance closed at Rs 437.55 apiece on the BSE on Friday, down 3.10 per cent.
"We are encouraged by the strong growth in disbursements, which was consistent throughout the year and improving in the fourth quarter. Significant improvement in asset quality is another area of success during the year. We are confident of a very good FY16," company's Managing Director and Chief Executive Officer Sunita Sharma said.
Net interest margins in the March quarter stood at 2.47 per cent as against 2.40 per cent in the corresponding period last year.
Net interest income grew 22 per cent to Rs 650 crore from Rs 533 crore in the year-ago period.
Total disbursements in the quarter grew 23 per cent to Rs 9,938 crore and individual loan disbursements rose 24 per cent to Rs 9,550 crore.
