GIC Housing Finance’s net profit drops 48% to Rs 26 cr for Q4FY20

New Delhi: GIC Housing Finance’s net profit dropped 48 percent to Rs 26.40 crore for the fourth quarter of the 2019-20 fiscal as compared to Rs 50.9 crore in the corresponding quarter of the previous fiscal.

The total income of the company fell marginally to Rs 317.08 crore in the fourth quarter of the 2019-20 fiscal, as compared to Rs 324.31 crore in the corresponding period of the previous fiscal. 

The company’s net profit for the entire fiscal 2019-20 nosedived 74 percent to Rs 45 crore as compared to Rs 171 crore in the previous fiscal. 

The com[nay’s total income increased marginally to Rs 1254 crore for the whole fiscal 2019-20 as compared to Rs 1,227 in the previous fiscal, the company saidin a regulatory filing.

The total expenses of the company increased to Rs 274 crore for the for the fourth quarter of the 2019-20 fiscal as compared to Rs 258 crore in the corresponding quarter of the previous fiscal. The total expenses of the company increased to Rs 1,142 crore for the entire fiscal 2019-20 as compared to Rs 98 crore in the previous fiscal.  

The company recommended a dividend of Rs 2 per equity share for the entire fiscal 2019-20.

 

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