GIC Housing Q4 profit drops 35% YoY despite rise in total income

GIC Housing Finance reported a 35% dip in fourth quarter net profit at Rs 35 crore as compared with Rs 54 crore in the year ago period, on account of rise in expenses.

The mortgage lender saw its total income for the quarter rising to Rs 276 crore against Rs 266 crore in the corresponding period in FY24. In comparison, expenditure grew faster at Rs 207 crore against Rs 186 crore.

The company declared a 45% final dividend for FY25 which translates into Rs 4.50 per equity share of face value of Rs 10 each. The record date for determining the entitlement of shareholders eligible to receive dividend is fixed July 18.

Its share price rose 1.67% Friday to Rs 189 on BSE.

Centrum Capital reports Rs 24 crore net profit for Q4

In other news, Centrum Capital reported a Rs 24.2 crore consolidated net profit for the fourth quarter ending March 31 against a net loss of Rs 58.6 crore in the preceding quarter. The net profit was Rs 39.4 crore in the year-ago period.

The company board on Friday approved raising of equity capital up to Rs 1000 crore in FY26 by way of rights issue or private placement. The board has also approved issuance of warrants convertible into equity shares of Re 1 each, pari passu with the existing equity shares of the company, aggregating up to Rs 250 crore to JBCG Advisory Services Private Limited, a promoter group entity, on a preferential basis.In addition, the company also got the enabling provision of raising Rs 1000 crore by selling non convertible debentures.