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Our Banking Bureau
Mumbai, Oct 28: LIC Housing Finance has recorded a 18% jump in its net profit to Rs 36.81 crore during the first half of 1998-99 compared with Rs 31.41 crore in the corresponding period of the previous year.
The company's board met on Wednesday to approve the unaudited financial results of the company.
During the first half of the current fiscal, the company has shown around 15 per cent growth in profit before tax which increased to Rs 48.36 crore from Rs 42.06 crore during the corresponding period last year.
The company's income during the first half year (net of interest tax) was Rs 257.74 crore against Rs 221.33 crore last year.
The growth in individual loan sanctions and disbusements is 32.73 per cent and 26.62 per cent respectively.
In absolute terms, the amount sanctioned is Rs 496.82 crore and disbursement is to the tune of Rs 448.56 crore during the period.
The total sanctions and disbursements for the first half were Rs 528.62 crore and Rs 452.45 crore, respectively -- registering agrowth rate of 36.72 per cent and 23.57 per cent.
In individual loan segment, sanctions have gone up by 14.7 per cent during the period.
The average size of loans has gone up to Rs 2.40 lakh from Rs 2.07 lakh.
The cumulative sanctions up to September 1998 stood at Rs 5,423.63 crore and disbursements at Rs 4,536.63 crore.
The total number of dwelling units financed since the company's inception till September 1998 is Rs 3,40,192.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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