LIC Housing Q2 profit rises 23 per cent
By Our Banking Bureau | 01 Dec 2003
Mumbai: LIC Housing Finance has reported a 23-per cent increase in net profit for the quarter-ended September 30, 2003.
Net profit for the quarter amounted to Rs 35.98 crore, as against the figure of Rs 29.23 crore in the same period last year.
Income from operations increased 4.6 per cent to Rs 233.87 crore (Rs 223.68 crore). Other income rose more than 40 per cent to Rs 14.45 crore (Rs 10.31 crore).
Interest expenses decreased for the quarter, year-on-year, to Rs 162.35 crore from Rs 180.45 crore. Other expenses rose to Rs 38.78 crore from Rs. 15.14 crore.
Gross profit, after interest, depreciation and taxation stood at Rs 47.19 crore, up from Rs. 38.4 crore.