Small BusinessLIC Housing Finance net up 14%
LIC Housing Finance (LICHF) reported a 14 per cent rise in net profit to Rs 153.58 crore for the quarter ended December 2009 compared with Rs 134.33 crore in the year-ago quarter.
- "Efforts on to limit bad assets" - SBI net declines 8.4 per cent - Wockhardt narrows Q4 loss to Rs 181 cr - Pantaloon Retail Q3 net up 51% at Rs 51 cr - Era Infra Q3 profit surges 85% to Rs 57 cr - Godrej Industries Q3 net up eight times at Rs 44 cr
Over the same period, disbursements grew by 86 per cent to Rs 3,604 crore, while sanctions grew 72 per cent to Rs 4,516 crore.
However, provisions jumped to Rs 15.83 crore compared with Rs 74 lakh in the corresponding period last year.
Gross non performing assets (NPAs) as a percentage of advances were 1.44 per cent as of December 2009 as against 1.69 per cent in December 2008.
The outstanding mortgage portfolio as on December 31, 2009, was Rs 34,166 crore as against Rs 25,335 crore a year ago, registering a growth of 35 per cent.
Net interest margin improved to 2.76 per cent from 2.44 per cent at the end of the December 2008 quarter.