IDFC consolidated net profit increases 44% in Q3FY ‘08

IDFC consolidated net profit increases 44% in Q3FY ‘08
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First Published: Tue, Jan 15 2008. 11 03 AM IST
Updated: Tue, Jan 15 2008. 11 03 AM IST
New Delhi: IDFC has posted profit after tax of Rs593 crore, an increase of 44% over 9M FY 2007 at Rs411 crore
The EPS (diluted) increased from Rs3.63 to Rs4.79 per share while net interest income (NII) stood at Rs507 crore which is an increase of 54% over 9M FY 2007.
Gross approvals were to the tune of Rs14,853 crore, an increase of 60% at Rs9,255 crore and gross disbursements were Rs8,401 crore,an increase of 53% at Rs5,505 crore.
At the company’s 61st board meeting that was held on 14January, 2008, the board of directors approved financial results for the period 1April, 2007 to 31December, 2007 (9M FY 2008).
Net interest income increased by 54% from Rs329 crore in 9M FY 2007 to Rs507 crore in 9M FY 2008 while net interest income from infrastructure loans increased by 35% from Rs295 crore to Rs399 crore in 2008.
Net interest income from treasury operations increased by 209% from Rs35 crore in 9M FY 2007 to Rs108 crore 9M FY 2008. Non interest income for 9M FY 2008 increased by 134% from Rs208 crore in 9M FY 2007 to Rs487 crore 9M FY 2008.
Income from principal investments (capital gains and dividend) increased by 57% from Rs128 crore in 9M FY 2007 to Rs200 crore in 9M FY 2008. Fees from IDFC’s asset management business was Rs40 crore in 9M FY 2008. Income from IDFC-SSKI, the investment banking subsidiary of IDFC, was Rs124 crore in 9M FY 2008.
Advisory and other fees increased by 209% from Rs40 crore in 9M FY 2007 to Rs123 crore in 9M FY 2008.
Profit before tax increased by 60% from Rs500 crore in 9M FY 2007 to Rs801crore in 9M FY 2008. After providing Rs209 crore for tax and minority interest, the profit after tax for 9M FY 2008 increased by 44% to Rs593 crore, from Rs411 crore in 9M FY 2007.
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First Published: Tue, Jan 15 2008. 11 03 AM IST