The housing financier reported a 201 per cent rise in the net profit to Rs 79.7 crore in the March 2021 quarter as against 26.42 crore in the same quarter of previous year.
Shares of GIC Housing Finance surged 18 per cent to Rs 179.40 on Tuesday at 12.15 pm. BSE Sensex was trading at 52,555.74, down by 180 points, or 0.34 per cent, at the same time.
However, the total income from operations declined 3 per cent to Rs 307.22 crore in Q4FY21, as compared to total revenue of Rs 317.08 crore in March 2020 quarter.
GIC Housing Finance shares have surged as much as 50 per cent in the year 2021 so far. The counter has more than doubled investors’ money in the last one year.
For the full financial year 2020-21, net profit of the company surged 131 per cent to Rs 105.57 crore, as against 45.61 crore in the previous fiscal. Revenue from operations declined marginally to Rs 1,240.33 crore during the period under review.
The company board has also approved a dividend of Rs 4 per equity share.
