LIC Housing Finance reported a net profit of Rs 5.7 billion for the quarter ended September 30, about 12 per cent higher than the same period a year before. Total income also rose 12 per cent, to Rs 42 bn. These numbers exceeded the expectation and helped it offset a 13 per cent increase over the year in cost of funds, to Rs 31.4 bn in the quarter. These results, along with a healthy outlook, pushed the stock's price at the day's close to Rs 415.85 on the National Stock Exchange, up 2.6 per cent from Friday. The loans portfolio grew to Rs 1,760 bn, a year-on-year growth of 10 per cent. Disbursements rose 30 per cent, to Rs 142.7 bn. Vinay Sah, managing director, said strong growth in the affordable housing segment in both value and volume terms had aided the loan growth. Loans to this section were 13.5 per cent of the total in the quarter. "We expect the trend in disbursal to continue," he said.A worry factor is steep decline in the share of loans to individual borrowers (retail, in ..
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Goldprice dips Rs 10 to Rs 62,720, silver falls Rs 100 to Rs 74,900
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