LIC Housing Finance Q1 net up 21% at Rs 256 crore

MUMBAI: LIC Housing Finance today posted a 21 per cent jump in net profit at Rs 256.5 crore for the quarter ended June 30.

The company had posted a net profit of Rs 212.02 crore for the corresponding quarter of the previous fiscal, LIC Housing Finance said in a filing to the Bombay Stock Exchange.

During the three months ending June 30, 2011, the total income of the company increased by 40 per cent to Rs 1,418 crore from Rs 1,015 crore in the same period of the last fiscal, it said.

However, the Net Interest Margin of the company stood at 2.78 per cent as against 3.01 per cent for the quarter ended June last year.

Outstanding mortgage portfolio of the company registered growth of 32 per cent at Rs 52,876 crore.