Is Housing finance market closed for LIC housing Finance
Net profit of lic housing finance drops directly 58% in last quarter of 2011. In last year 2nd quarter company shows a profit of 234 cr compare to the 98 cr of this year.
On the same place, company total income grows to 1515 cr or 37% sharply.
Only fall in the net profit for LICHF, Company disbursed loans of 4736 cr in individuals loans segment and registered growth of 24%
LICHF fails in developers loans segment, fall of 65% plays a important role in fall of net profit.
LIC Housing Finance Spokesperson said "The quarter has been a challenging one in terms of overall business environment, especially in view of successive rate hikes in the system. However, despite the adversities, the company has been able to post healthy growth and also has been successful in delivering an improvement in asset quality."
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