LIC Housing Finance gains after strong Q4 outcome

LIC Housing Finance rose 1.39% to Rs 273.20 at 13:40 IST on BSE after net profit rose 17.04% to Rs 370.02 crore on 19.43% increase in total income to Rs 2477.94 crore in Q4 March 2014 over Q4 March 2013.

The company announced the results during trading hours today, 21 April 2014.

Meanwhile, the BSE Sensex was up 68.86 points, or 0.30%, to 22,697.70.

On BSE, so far 3.86 lakh shares were traded in the counter, compared with an average volume of 3.34 lakh shares in the past one quarter.

The stock hit a high of Rs 277.90 and a low of Rs 270.60 so far during the day. The stock hit a 52-week high of Rs 280.50 on 21 May 2013. The stock hit a 52-week low of Rs 152 on 4 September 2013.

The stock had outperformed the market over the past one month till 17 April 2014, sliding 17.38% compared with the Sensex's 3.76% rise. The scrip had also out performed the market in past one quarter, rising 29.36% as against Sensex's 7.43% rise.

The large-cap company has an equity capital of Rs 100.93 crore. Face value per share is Rs 2.

LIC Housing Finance's net profit rose 28.73% to Rs 1317.18 crore on 21.88% increase in total income to Rs 9334.66 crore in the year ended March 2014 over the year ended March 2013.

On a consolidated basis, the company's net profit rose 25.84% to Rs 1318.20 crore on 21% increase in total income to Rs 9,373.04 crore in the year ended March 2014 over the year ended March 2013.

LIC Housing Finance is one of the largest housing finance companies in India having one of the widest networks of offices across the country. The company has set up a representative office in Dubai and Kuwait to cater to the non-resident Indians in the GLCC countries covering Bahrain, Dubai, Kuwait, Qatar and Saudi Arabia.

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