BWI: IDFC Consolidated Net Profit Increased by 42% in FY 2010 over FY 2009

Press release from Business Wire India
Source: Infrastructure Development Finance Company Limited
Tuesday, April 27, 2010 02:30 PM IST (09:00 AM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Financial Analyst, Stock exchanges
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IDFC Consolidated Net Profit Increased by 42% in FY 2010 over FY 2009


Mumbai, Maharashtra, India, Tuesday, April 27, 2010 -- (Business Wire India) -- Highlights of FY 2010

-- Profit After Tax of Rs.1,062 crore for FY 2010 compared to Rs. 750 crore in FY 2009
-- EPS (diluted) increased from Rs. 5.78 per share to Rs. 8.12 per share : an increase of 40%
-- Balance sheet size as on March 31, 2010 - Rs. 33,562 crore : an increase of 13%
-- Net NPAs at 0.17% of outstanding loans; No new NPA during FY 2010
-- Net Interest income (NII) of Rs.1,117 crore : an increase of 21%
-- Non Interest Income of Rs. 950 crore : an increase of 55%
-- Assets under management - USD 7.9 bn

At its 77th Board Meeting held on April 27, 2010, the Board of Directors of Infrastructure Development Finance Company Limited (IDFC) approved financial results for the period April 01, 2009 to March 31, 2010 and recommended Dividend at the rate of Rs. 1.50 per equity share for FY 2010.

INCOME

-- Net Interest Income (NII) increased by 21% from Rs. 922 crore in FY 2009 to Rs. 1,117 crore in FY 2010.
- Net Interest Income (NII) from infrastructure loans increased by 35% from Rs. 758 crore in FY 2009 to Rs. 1,021 crore in FY 2010.
- Net Interest Income from treasury operations decreased by 41% from Rs. 164 crore in FY 2009 to Rs. 96 crore in FY 2010.
-- Non Interest Income increased by 55% from Rs. 613 crore in FY 2009 to Rs. 950 crore in FY 2010.

-- Fees from IDFC's asset management business increased by 42% from Rs. 203 crore in FY 2009 to Rs. 290 crore in FY 2010.
-- Income from Investment banking and broking activity increased by 59% from Rs. 115 crore in FY 2009 to Rs. 183 crore in FY 2010.
-- Income from principal investments increased by 81% from Rs. 184 crore in FY 2009 to Rs. 333 crore in FY 2010.
-- Loan related and other fees increased by 30% from Rs. 111 crore to Rs. 144 crore

PROFITS

-- Profit before tax (PBT) increased by 38% from Rs. 1,036 crore in FY 2009 to Rs. 1,429 crore in FY 2010.
-- EPS (diluted) increased by 40% from Rs. 5.78 per share to Rs. 8.12 per share.
-- After accounting for tax and share of profit in associate company, the profit after tax (PAT) increased by 42% from Rs. 750 crore in FY 2009 to Rs. 1,062 crore in FY 2010.

BALANCE SHEET

-- The balance sheet size grew by 13% from Rs. 29,752 crore as at March 31, 2009 to Rs. 33,562 crore as at March 31, 2010.
-- Net Loan book increased by 22% from Rs. 20,596 crore to Rs. 25,031.
-- Exposure was Rs. 43,842 crore as on March 31, 2010.

About Infrastructure Development Finance Company Limited (IDFC)

Infrastructure Development Finance Company Limited (IDFC) is one of India's premier financial services institutions with a special focus on infrastructure. IDFC was set up in 1997 by the Government of India to act as a financier and catalyst for the private sector's involvement in infrastructure development in India. Over the last 12 years and more so since the company's initial public offering in 2005, IDFC has pursued a strategy to evolve into a 'one stop shop' for infrastructure finance in India, capable of meeting the increasingly complex and ambitious requirements of an expanding client base.

IDFC's business strategy involves participating in all parts of the value chain of infrastructure and providing a differentiated value proposition to its clients. IDFC's domain expertise in infrastructure combined with its product breadth across project financing, investment banking and asset management enables it to provide creative solutions to its clients' needs. IDFC has strong relationships with the private sector and government which enables it to play an important role in providing objective advice and facilitating public-private partnerships in infrastructure. IDFC is focused on contributing to evolving the right policies and frameworks to ensure sustainable infrastructure development in India. IDFC Foundation is actively involved in training various central, state and local government officials regarding public-private partnerships, the policy group provides thought leadership and advice on infrastructure policy and governance issues and the CSR team is focused on sustainable development strategies.


CONTACT DETAILS
Mr. Ravi Muthreja, Infrastructure Development Finance Company Limited, +91 (22) 42222019, ravi.muthreja@idfc.com, venkat@idfc.com

KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, Financial Analyst, STOCK EXCHANGES

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