GIC Housing Finance Q4 profit up 28% at Rs 60 crore

GIC Housing Finance reported a rise of 28 per cent in net profit at Rs 59.87 crore for the last quarter of 2017-18 financial year ended March 31.

The company made a net profit of Rs 46.61 crore in the January-March quarter of 2016-17. The total income increased to Rs 297 crore from Rs 266.63 crore in the year-ago period, the company said in a BSE filing.

The loan portfolio increased to Rs 11,235.06 crore as on March 31, 2018 from Rs 9,276.89 crore by the end of 2016-17.

The total assets grew to Rs 11,354.68 crore by the end of 2017-18 from Rs 9,404.49 crore as on March 31, 2017.

The company's board has recommended a dividend of Rs 5.50 per share for 2017-18, which is subject to shareholders' approval. GIC Housing Finance is engaged in the business of providing loans for purchase or construction of residential units.