LIC Housing Finance Q4 Results,Net profit falls over 7% YoY to Rs 1,091 crore
The company's board recommended a 450% dividend for FY24 and shareholders would get Rs 9 per equity share of Rs 2 each, subject to their approval.
![LIC Housing Finance Q4 Results,Net profit falls over 7% YoY to Rs 1,091 crore](https://www.psuconnect.in/sdsdsd/lic10.jpg)
LIC Housing Finance has announced its quarterly results of the March-end year reporting a 7.5% year-on-year fall in net profit at Rs 1,091 crore for the fourth quarter, against Rs 1,180 crore in the year-ago period.
The gross profit for the quarter stood a slight higher at Rs 1,476 crore, against Rs 1,445 crore.
The net profit for the previous year period was Rs 1,180 crore. The company's board recommended a 450% dividend for FY24. The shareholders would get Rs 9 per equity share of Rs 2 each, subject to their approval.
Net interest income rose 12 % at Rs 2238 crore, as against Rs 1990.30 crore for the same period the previous year. Net interest margin (NIM) for the quarter stood at 3.15 % as against 2.93% in the year-ago period.
The lender's total income was 8% higher at Rs 6,937 crore against Rs 6,415 crore while total expenses rose about 10% at Rs 5,461 crore against Rs 4,970 crore.
The loan disbursements of the company during the quarter were at Rs 18232 crore, up 14% year-on-year.
News Must Read
- Petroleum Minister Hardeep S Puri Highlights India’s Bioenergy Progress
- NBCC bags orders worth Rs. 182.50 Crore
- OMCs increases price of 19 kg commercial LPG cylinder by Rs 39
- HUDCO Issues Record Date For Dividend, Shares Rise 118% YTD
- NTPC Bongaigaon to Support TB Eradication Efforts; Partners with District Administration, Kokrajhar
- Solar Energy Corporation of India Ltd (SECI) attains Navratna Status
- Dr D K Sunil Takes Over as CMD (Additional Charge) of HAL
- DVC bags Champions Trophy for Corporate Sustainability at XLRI, Jamshedpur
- Minister Pralhad Joshi Visits IREDA Office, Reviews Company’s Strategic Growth Plan
- HAL Selects SAFHAL Helicopter Engines to Develop and Produce ‘Aravalli’ Engines