LIC Housing Finance’s Q1 standalone net profit up 18%

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New Delhi, Aug 24 (IANS) LIC Housing Finance on Friday reported an increase of 18 per cent in its standalone net profit for the quarter ended June 30, 2018.

The company said net profit for the quarter under review increased to Rs 567.94 crore from Rs 479.65 crore during the same period previous year.

The company’s net interest income rose to Rs 980.03 crore, as against Rs 919.37 crore for the same period in the previous year.

Besides, the company’s total income for the quarter increased by 11 per cent to Rs 4,051 crore from Rs 3,648 crore during the same period previous year.

“In the quarter ended June 30, 2018, total disbursements were Rs 9,594 crore as against Rs 8,699 crore for the corresponding period in the previous year registering a growth of 10 per cent,” the company said in a statement.

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“Out of that, disbursements in the individual home loan segment was Rs 7,260 crore against Rs 6,674 crore, whereas total disbursements in project loans was Rs 889 crore as against Rs 413 crore for quarter ended June 30, 2017.”

–IANS

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