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LIC Housing Finance net jumps 7.85% to Rs 109 cr, to pay 5%
Kailash Rajwadkar
Mumbai, May 12: The LIC Housing Finance Ltd has registered a net profit of Rs 109.08 crore for the year ending March 31, 2000 as against Rs 101.14 crore for the previous year, recording an increase of 7.85 per cent.The company posted a 14.9 per cent surge in income to Rs 645.42 crore, compared with Rs 561.60 crore in the previous year. The board has recommended a further tax-free dividend of 5 per cent in addition to the interim dividend of 25 per cent already paid for the year 1999-2000.The company sanctioned 49,605 individual loans for a sum of Rs 1390.12 crore of which 46,672 cases accounted for disbursements of Rs 1,285.06 crore during the year. The company also sanctioned a sum of Rs 43.46 crore to corporate bodies, public housing agencies and developers. The company registered a growth of 34.38 per cent in sanctions and 36 per cent in disbursements during the year. The total outstanding mortgage portfolio grew by 20.38 per cent over its previous year to Rs 4,379.37 crore. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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