LIC Housing finance Q2 profit up 37%

Housing mortgage lender LIC Housing Finance reported a rise of 36.8 per cent in its net profit to R234.2 crore for the quarter ended September 2010, riding on the robust growth in its interest income.

Housing mortgage lender LIC Housing Finance reported a rise of 36.8 per cent in its net profit to R234.2 crore for the quarter ended September 2010, riding on the robust growth in its interest income.

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The net interest income of the company grew by 63 per cent to R305 crore in the second quarter ended on September, against R187 crore in the same quarter previous year. Its total income increased to R 1,107.4 crore in the second quarter of fiscal 2010-11 from R839.07 crore in the corresponding quarter last year.