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
- Karnataka Bank Announced record Q1 Net Profit at Rs. 400.33 CR
- NTPC, BHEL shares soar higher amid JV announcement in Budget 2024
- BEL signs tripartite MoU for manufacture of indigenised ammunition
- Goa Shipyard Limited launched first indigenous P1135.6 Frigate
- Chandan Sinha appointed as Non-Executive Part Time Chairman of RBL Bank
- OIL and Dolphin Drilling signs contract for hiring of Blackford Dolphin
- Cmde D.K. Murali, IN (Retd.) Joins as CMD of BECIL
- Samir Chandra Saxena Appointed as Director (Market Operation) of GRID-INDIA
- MOIL CMD bags Title 'CEO of the Year'
- ONGC sign MoU with GSI to advance geothermal exploration in Ladakh