New Delhi: LIC Housing Finance standalone net profit rose by 18.1 per cent to Rs 529.19 crore in the fourth quarter of last fiscal ended March 31.


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The company's net profit in the January-March period of the previous fiscal, 2015-16, was Rs 448.02 crore.


Its total income witnessed an increase of 11.8 per cent to Rs 3,661.86 crore as against Rs 3,273.94 crore a year ago, LIC Housing said in a regulatory filing.


There was over two-fold jump in its provision and write off at Rs 89.29 crore during the March quarter of 2016-17, from Rs 37.63 crore in the year-ago period.


There was a decline in its assets to Rs 1,50,900.56 crore as at the end of March 2017, from Rs 1,50,997.20 crore a year ago.


LIC Housing Finance said its board has recommended a dividend of Rs 6.20 per equity share for 2016-17.


The main business of the company is to provide loans for purchase or construction of residential units.


The company's stock closed 2.33 per cent up at Rs 673.10 on BSE.