LIC Housing Finance has reported its first quarter financial results of the current fiscal year.

According to LIC Housing Finance, the net profit of the company has gone up by an impressive 71% in the quarter under review against the like period in the previous year.

The company has registered net profit of Rs 212 crore during the first quarter ended in 30th June 2010. It was Rs 123.84 crore during the corresponding period in the fiscal year 2009-10.

As per the company officials this sharp rise in the net profit is due to the reasonable increase in disbursement in the current financial year.

As per the reports the quarterly disbursement during this period of time has went up by almost 40% up which has touched to Rs 3,392 crore.

Last year it was Rs 2,430 crore in the first quarter. The total income of the company is reported to be Rs 1,015 crore against Rs 782 crore in for Q1 last year. There has been a 30% rise in the total income of the company in Q1.