20 from LIC Housing

MUMBAI, May 30: LIC Housing Finance Ltd has recorded a 22.69 per cent growth in its net profit at Rs 63.38 crore in year ending March 1997 up from Rs 51.66 in the previous year. The company has recommended 20 per cent dividend against 18 per cent in the previous year.It has registered 16 per cent growth in the profit before tax and depreciation at Rs 79.26 crore on a total income of Rs 409.53 crore.

During the financial year, the company sanctioned loans to the tune of Rs 738.38 crore while the disbursements showed a 20.92 per cent rise to Rs 668.43 crore.

The company plans to sanction over 41,000 individual loans for Rs 840 crore and disburse over 39,000 loans for Rs 770 crore. Besides, these individual loans the company plans to sanction Rs 100 crore.