LIC housing finance net up 47% to Rs 314.7 cr

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LIC housing finance net up 47% to Rs 314.7 cr
LIC Housing Finance recorded a significant growth in net profit during the quarter ended March 2011 as its net profit rose by 47% to Rs. 314.77 crore as compared with the net profit figures of Rs 213.51 crore, it posted during the same period last year.

Apart from this the company even reported an increase of 44% in its total income to Rs. 1,391.92 crore (FY11) from Rs. 967.74 crore (FY10). As stated by the Director & Chief Executive of the company, VK Sharma, 2010-11 has been another year in which the company has reported a stable performance throughout and hence now is the time when the company is ready to step into the next level of growth.

Moreover, the company has posted a net profit after tax of Rs 974.48 crore for the year ended March 31, 2011 as compared to Rs 662.17 crore for the year ended March 31, 2010. The total Income has increased from Rs 3469.16 crore for the year ended March 31, 2010 to Rs 4868.72 crore for the year ended March 31, 2011.

While on a consolidated basis, the Group has posted a net profit after tax and share of associate Company's profit of Rs 951,88 crore for the year ended March 31, 2011 as compared to Rs 688.83 crore for the year ended March 31, 2010. Total Income has increased from Rs 3474.69 crore for the year ended March 31, 2010 to Rs 4874.66 crore for the year ended March 31, 2011.

Read more about: result, shares, bse, nse, lic housing finance
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