New Delhi, Jun 29 (PTI) 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.

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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.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)