GIC Housing Finance Q4 profit up 28% at Rs60 crore
GIC Housing Finance’s loan portfolio increased to Rs11,235.06 crore as on 31 March 2018 from Rs9,276.89 crore by the end of 2016-17
New Delhi: GIC Housing Finance on Tuesday reported a rise of 28% in net profit at Rs59.87 crore for the last quarter of 2017-18 financial year ended 31 March.
The company made a net profit of Rs46.61 crore in the January-March quarter of 2016-17. The total income increased to Rs297 crore from Rs266.63 crore in the year-ago period, the company said in a BSE filing.
The loan portfolio increased to Rs11,235.06 crore as on 31 March 2018 from Rs9,276.89 crore by the end of 2016-17. The total assets grew to Rs11,354.68 crore by the end of 2017-18 from Rs9,404.49 crore as on 31 March 2017.
The company’s board has recommended a dividend of Rs5.50 per share for 2017-18, which is subject to shareholders’ approval. GIC Housing Finance is engaged in the business of providing loans for purchase or construction of residential units. Stock of the company closed 1.68% up at Rs406.20 on BSE.
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