LIC Housing net rises to Rs 62 crore

Our Bureau

Mumbai, Jan 28: LIC Housing Finance Ltd has registered a net profit of Rs 62.23 crore during the nine-month period ended December 31, 1998, against Rs 55.23 crore during the corresponding period of the previous year, representing a growth of 12.67 per cent. The company's total income during the first nine months of the current fiscal was at Rs 401.13 crore, a growth of 17.33 per cent over the year-ago period's corresponding figure of Rs 341.89 crore. The increase in the number of individual loan sanctions is 13.22 per cent.

Meanwhile, United Western Bank's net profit for the third quarter ended December 31, 1998, has slipped by 15 per cent. While the private bank's total income was up by 13 per cent to Rs 90.11 crore (Rs 77.42 crore), the interest expended during the quarter was up by 23 per cent to Rs 62.73 crore (Rs 48.12 crore). However during the nine-month period ended December 31, 1998, UWB's net profit was up by 11.21 per cent to Rs 21.52 crore (Rs 19.35 crore). The total income of the bank duringthe nine-month period registered a growth of 21.61 per cent to Rs 278.68 crore (Rs 229.15 crore).

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