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LIC Housing Finance has reported a 6.7% increase in its net profit for the quarter ended June 30, 2016.
The company has posted profit after tax of Rs 407.84 crore for Q1 FY17 as compared to Rs 382.13 crore posted by it for the same quarter of the previous year.
For the Q1 of FY17, the net interest margins stood at 2.61% as against 2.41% of Q1 of FY16. The net interest income of the firm for Q1 of FY17 has been Rs 825 crore registering a growth of 25% over the same period of last year.
LIC Housing Finance MD & CEO, Sunita Sharma has said that ” We have registered a healthy disbursement growth rate, robust NII growth delivering higher net interest margins and maintained a very good asset quality. We are confident of building on this and continue to remain positive on our future performance.”
