Monday, January 31, 2011

BWI: IDFC Consolidated Net Profit Increased by 19% in 9M FY 2011 over 9M FY 2010

Press release from Business Wire India
Source: Infrastructure Development Finance Company Limited
Monday, January 31, 2011 07:50 PM IST (02:20 PM GMT)
Editors: General: Consumer interest, Economy; Business: Accounting & management consultancy services, Banking & financial services, Business services, Financial Analyst, Stock exchanges
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IDFC Consolidated Net Profit Increased by 19% in 9M FY 2011 over 9M FY 2010


Mumbai, Maharashtra, India, Monday, January 31, 2011 -- (Business Wire India) -- Highlights of 9M FY 2011

-- Profit After Tax of Rs. 995 crore for 9M FY 2011 compared to Rs. 834 crore in 9M FY 2010
-- EPS (diluted) increased from Rs. 6.38 per share to Rs. 6.87 per share : an increase of 8%
-- IDFC is notified as Infrastructure Finance Company by the Reserve Bank of India
-- IDFC raised Rs. 2,654 crore through the QIP route by allotment of equity shares to QIBs and Rs. 840 crore of capital through a preferential issue of CCCPS.
-- Balance sheet size as on December 31, 2010 - Rs. 48,030 crore : an increase of 53%
-- Net NPAs at 0.11% of outstanding loans; No new NPA during 9M FY 2011
-- Net Interest income (NII) of Rs. 1,171 crore : an increase of 47%
-- Non Interest Income of Rs. 729 crore : an increase of 7%
-- Assets under management - USD 6.1 billion

At its 81st Board Meeting held on January 31, 2011, the Board of Directors of Infrastructure Development Finance Company Limited (IDFC) approved financial results for the period April 01, 2010 to December 31, 2010.

Profit After Tax for IDFC standalone increased by 27% from Rs. 734 crore in 9M FY 2010 to Rs. 930 crore in 9M FY 2011. However, profitability of the core lending business (excluding income from principal investments) over 9M FY 2010 increased by more than 50%.

INCOME

-- Net Interest Income (NII) increased by 47% from Rs. 797 crore in 9M FY 2010 to Rs. 1,171 crore in 9M FY 2011.
- Net Interest Income (NII) from infrastructure loans increased by 47% from Rs. 731 crore in 9M FY 2010 to Rs. 1,076 crore in 9M FY 2011.
- Net Interest Income from treasury operations increased by 46% from Rs. 65 crore in 9M FY 2010 to Rs. 95 crore in 9M FY 2011.

-- Non Interest Income increased by 7% from Rs. 680 crore in 9M FY 2010 to Rs. 729 crore in 9M FY 2011.
- Fees from IDFC's asset management business decreased by 3% from Rs. 209 crore in 9M FY 2010 to Rs. 203 crore in 9M FY 2011.
Income from Investment banking and broking activity increased by 22% from Rs. 132 crore in 9M FY 2010 to Rs. 161 crore in 9M FY 2011.
- Income from principal investments decreased by 31% from Rs. 234 crore in 9M FY 2010 to Rs. 162 crore in 9M FY 2011.
- Loan related and other fees increased by 94% from Rs. 105 crore to Rs. 203 crore.

PROFITS

-- Profit before tax (PBT) increased by 21% from Rs. 1,128 crore in 9M FY 2010 to Rs. 1,367 crore in 9M FY 2011.
-- EPS (diluted) increased by 8% from Rs. 6.38 per share to Rs. 6.87 per share.
-- After accounting for tax andb share of profit in associate company, the profit after tax (PAT) increased by 19% from Rs. 834 crore in 9M FY 2010 to R
BALANCE SHEET

-- The balance sheet size grew by 53% from Rs. 31,328 crore as at December 31, 2009 to Rs. 48,030 cr -- Net Loan book increased by 51% from Rs. 23,190 crore to Rs. 35,021 crore.
-- Exposure was Rs. 57,558 crore as on December 31, 2010.

To view the tables, please click on the link given below:

Unaudited Financial Results
For picture(s)/data to illustrate this release click below:

http://www.BusinessWireIndia.com/attachments/1.pdf
1.pdf


CONTACT DETAILS
Mr. K.V. Venkatrama, Infrastructure Development Finance Company Limited, + 91 (22) 42222020 , venkatraman.kv@idfc.com

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

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