GIC Housing Finance Q4 profit halves to Rs 26 cr

GIC Housing Finance on Monday reported a 48 per cent decline in its net profit to Rs 26.40 crore for the fourth quarter ended March 31. The company had posted a net profit of Rs 50.9 crore in the January-March quarter of 2018-19.

Its total income also came down to Rs 317.08 crore, compared with Rs 324.31 crore in the year-ago period, GIC Housing Finance said in a regulatory filing. The firm's board has recommended a dividend of Rs 2 per share for 2019-20, which is subject to shareholders' approval.