LIC Housing Finance rebounds on robust Q4 results
Q4 net profit at Rs 316 crore against an average analyst estimates of Rs 268 crore.
LIC Housing Finance has moved higher by 5% to Rs 244, bouncing back 6% from intra-day low, on reporting 24% year-on-year (yoy) growth in net profit at Rs 316 crore for the fourth quarter ended March 2013 (Q4).
Net interest income (NII) or the difference between interest earned and paid out, grew 20% at Rs 488 crore on yoy basis. Analysts on average are expecting a NII of Rs 426 crore and net profit of Rs 268 crore from the housing finance company.
Meanwhile, the board has recommended a dividend of 190% or Rs 3.80 per equity share of Rs 2 each for the financial year 2012-13.
The stock opened at Rs 235 and hit a low of Rs 230 on NSE. The counter has seen over three-fold jump in trading volumes with a combined 5.89 million shares changing hands till 1400 hours on NSE and BSE.
Net interest income (NII) or the difference between interest earned and paid out, grew 20% at Rs 488 crore on yoy basis. Analysts on average are expecting a NII of Rs 426 crore and net profit of Rs 268 crore from the housing finance company.
Meanwhile, the board has recommended a dividend of 190% or Rs 3.80 per equity share of Rs 2 each for the financial year 2012-13.
The stock opened at Rs 235 and hit a low of Rs 230 on NSE. The counter has seen over three-fold jump in trading volumes with a combined 5.89 million shares changing hands till 1400 hours on NSE and BSE.