LIC Housing Fin Q1 net up to Rs 33 crore
By Our Banking Bureau | 25 Jul 2002
Mumbai: LIC Housing Finance Ltd has reported a net profit of Rs 33.59 crore for the first quarter ended 30 June 2002 as against Rs 25.51 crore for the corresponding period last year.
The income from operations rose to Rs 218.91 crore for the first quarter from Rs 195.45 crore. The individual loans amount sanctioned for the first quarter was Rs 517.24 crore and disbursed was Rs 469.85 crore.
Interest expenses rose to Rs 155.73 crore in the first quarter of 2002 from Rs 148.14 crore. Other expenses increased slightly to Rs 18.66 crore (Rs 12.19 crore). Other expenses include provisions for contingencies of Rs 7 crore for the quarter ended 30 June 2002 (Rs 3.5 crore).
The company plans to sanction individual loans for Rs 2,700 crore and disburse loans for Rs 2,500 crore by March 2003.
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