LIC Housing Finance’s Q4 net profit up 18%

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Mumbai, April 25 (IANS) LIC Housing Finance on Tuesday reported a rise of 18 per cent in its stand-alone net profit for the fourth quarter (Q4) of 2016-17.

The company’s net profit rose to Rs 529.19 crore from Rs 448.02 crore reported for the corresponding quarter of 2015-16.

According to the company, its net interest income for the quarter under review increased by 27 per cent to Rs 1,040 crore from Rs 821 crore earned during the fourth quarter of 2015-16.

The company’s net non-performing assets for Q4 declined to 0.14 per cent from 0.22 per cent reported for the corresponding quarter of 2015-16.

“Our numbers showcase a healthy growth in Q4 FY 2017 and the financial year overall,” said Vinay Sah, Managing Director and Chief Executive Officer of LIC Housing Finance.

“We are glad to end the year on a positive note with yet another quarter of consistent performance across all parameters.”

–IANS

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