GIC Housing Finance Net Profit Increases in Q3

GIC Housing Finance Net Profit Increases in Q3
27/01/2017 , by , in ALLIED

GIC Housing Finance reported a 12.6 per cent increase in its net profit at Rs 34.43 crore for the third quarter ended December. Company’s net profit stood at Rs 30.59 crore in the corresponding October-December quarter of 2015-16.

Total income of the company rose to Rs 253.07 crore for the reported quarter, up 13.6 per cent from Rs 222.76 crore in the year ago period, it said in a regulatory filing.

Earnings per share stood at Rs 6.39, as against Rs 5.68 in the same period year earlier. The company’s main business is to provide loans for purchase or construction of residential units.

GIC Housing said it maintained 100 per cent asset cover on its secured listed non-convertible debentures as of December 31, 2016. Stock of the company closed 0.14 per cent down at Rs 284.05 on BSE.

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