By Gautam Chakravorthy, Bloomberg
Mumbai: Indiabulls Financial Services Ltd., an Indian securities firm, said fourth-quarter profit almost doubled.
Net income, including units, rose to Rs1.57 billion ($37 million) in the three months ended 31 March from Rs803.7 million a year earlier, the New Delhi-based company said in an e-mailed statement today. Total income more than doubled to Rs4.18 billion in the quarter, the company said.
Indiabulls, whose shares have risen fivefold in the past 12 months, offers brokerage services in equities, debt and derivatives, advances loans against shares and lends to consumers.