Mumbai: Financial services company India Infoline has reported a 54.28% dip in its net profit at Rs29.78 crore for the third quarter ended December 2008.
The company had a net profit of Rs65.14 crore in the December quarter of FY’08, India Infoline said in a filing to the Bombay Stock Exchange (BSE).
Besides, the board has approved an investment of $10 million (Rs49 crore) to set up its wholly-owned subsidiaries in UK, Dubai and Mauritius for undertaking financial services business.
The company’s income from operations dropped 26% to Rs229.51 crore during the quarter under review, from Rs310.16 crore in the same period last fiscal.
However, the net profit for the nine-month ended December 2008 grew 27.17% over the year-ago period to Rs119.53 crore.
Also the board has declared an interim dividend of Rs2.8 a share on every share of Rs2 each held.
Shares of India Infoline were trading at Rs45.65, up 2.93% in the late afternoon trade on the BSE.